Angry Birds developer eyes IPO in 3-4 years: report

HELSINKI Mon May 9, 2011 9:38am EDT

Rovio Chief Executive Mikael Hed stands in front of an Angry Birds poster at his company's offices in Helsinki August 16, 2010. REUTERS/Georgina Prodhan

Rovio Chief Executive Mikael Hed stands in front of an Angry Birds poster at his company's offices in Helsinki August 16, 2010.

Credit: Reuters/Georgina Prodhan

HELSINKI (Reuters) - Rovio, the developer of the "Angry Birds" mobile game eyes an initial public offering in three to four years, its chief marketing officer was quoting as saying in a Finnish business daily on Monday.

"It is very possible that we will be listed in bourse in three to four years, but we are not in a hurry," Chief Marketing Officer Peter Vesterbacka told Kauppalehti, but did not say where the IPO could take place.

"We can carry out all of our current plans without bourse listing, but bourse is still a more meaningful direction than, for instance, selling the company."

He said Rovio aimed within three years to become the world's leading entertainment brand. Currently the firm is opening a new office in China and mulls new offices in Japan and the United States.

Vesterbacka estimated Rovio's 2011 sales would be around 50-100 million euros ($69.85-$139.7 million) versus 6.5 million in 2010.

(Reporting by Terhi Kinnunen; Editing by Mike Nesbit)

($1=.7158 euros)

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Comments (2)
julienquentin wrote:
That’s a strategy to position yourself versus the leader but this is not really realistic in Rovio’s case.
A vision at 3-4 years given the current situation, i don’t believe in it. Angry bird is still missing some strategic elements that brands like Disney and Hello Kitty have.

May 09, 2011 6:38am EDT  --  Report as abuse
WHY GOING PUBLIC? TO MAKE LAWYERS RICH… IT IS SILLY…

May 09, 2011 9:59am EDT  --  Report as abuse
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