Angry Birds IPO expected to value parent Rovio at $1 billion
Remember Angry Birds? Well, apparently enough people are still playing it to justify an IPO.
Rovio Entertainment, the Finnish parent of the popular smartphone game, is getting ready to go public on the Helsinki Nasdaq in two weeks. And it’s set the price range for an IPO that would value the company at about $1 billion, a lot less than the over $2 billion they were said to be hoping for.
But it will still be a “unicorn” if it goes public at the €10.25 to €11.50 per share that the company is targeting. The IPO will raise about €30 million.
Angry Birds apps have been downloaded 3.7 billion times since it was launched in 2009. It was able to leverage the success of the game and turn this into “The Angry Birds Movie” last year.
The company has raised at least $42 million in equity funding from Accel, Atomico, Felicis Ventures and others.