Moshi Monsters' Mind Candy considering IPO
The Moshi Monsters franchise is aimed at young children, and has seen more than 60 million users sign up to the online game. During the current fiscal year, Mind Candy has sold more than $100 million worth of Moshi Monsters merchandise.
The London, UK-based company has also signed over 100 licensing deals to date, including deals with toy maker Mega Bloks, Activision Blizzard for a Nintendo DS version of the game, and a music album based on songs from the games.
Talking to Reuters, the company's chief executive Michael Acton Smith explained, "We can't necessarily stay private forever. We have a lot of shareholders and we don't want to sell. Going public at some point is the smartest way forward."
However, he noted, "To build a business with global scale that can go public, we absolutely have to be huge in the U.S. and that's one of the many reasons we want Moshi to take off here."
The company has already begun its move to the U.S., opening a new Los Angeles office last year that focuses on producing video content for the game's young playerbase.
"The window has been opened this year where it hasn't been in recent years. Investors are understanding there's a huge amount of value in tech businesses," Smith continued.
The company was valued at $200 million last year, but Smith says that "our valuation is now substantially higher than that."