Rovio Entertainment, the company behind the super popular “Angry Birds,” is thinking about an IPO for next year, CMO Peter Vesterbacka said in an interview with Bloomberg TV.The exact quote: “We’re not ready to file for an IPO tomorrow … Maybe a year from now.”
This could just be an off-handed comment from the CMO, or Angry Birds could actually be a public company in 2012.
It’s not as crazy as you’d think.
Angry Birds generates revenue from in-app purchases. It also sells physical items like t-shirts and stuffed toys. All that revenue has the company looking at a valuation that’s “a little north of $1 billion.”
Vesterbacka claims Rovio is “insanely profitable.”
Rovio has 150 million active users, according to Vesterbacka. For some context, Zynga’s monthly active users are just shy of 250 million. Zynga is filing for an IPO, and we think its worth $11 billion. (It’s not a perfect comparison, of course, because Zynga has a number of successful games.)
And for the doubters who think it’s crazy that a company based on a single game would go public, Vesterbacka has an answer: “Disney started as a black and white cartoon about this little mouse.”
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