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 Angry Birds  Maker Rovio Eyes A 2012 IPO, Says $1.2B Valuation Was Too Low

Angry Birds Maker Rovio Eyes A 2012 IPO, Says $1.2B Valuation Was Too Low

October 13, 2011 | By Frank Cifaldi




Finnish mobile game maker and Angry Birds creator Rovio may start selling shares of its company as early as next year.

That's according to the company's chief marketing officer and "Mighty Eagle" Peter Vesterbacka, who recently spoke with Bloomberg.

"We’re not ready to file for an IPO tomorrow," he said when asked. "Maybe a year from now."

In August, sources estimated that the company's valuation may be as high as $1.2B, which ruffled some feathers from critics who said that such value is indicative of a building bubble set to burst.

However, according to Vesterbacka, the company's internal estimates could exceed that $1.2B figure.

"We’re happy with our valuation but we think it’s probably a bit north of that," he said.

Angry Birds has been something of a global phenomenon for the company. Globally, the game recently passed 350 million downloads, and is continuously ranked in both the top free and top paid charts on Apple's iOS App Store.


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