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Angry Birds-maker Rovio priced IPO, valuing company at $1 billion


Angry Birds-maker Rovio Entertainment priced its IPO at 11.50 euros, at the highest of its proposed vary. It raises 30 million euros in proceeds.

This values the company a bit above $1 billion, simply part of the $2 billion the company was once prior to now mentioned to be hoping for. The company prior to now raised at least $42 million in mission investment from Accel, Atomico, Felicis Ventures and others. 

Angry Birds apps were downloaded three.7 billion occasions because it was once introduced in 2009. It was once in a position to leverage the good fortune of the sport and switch this into “The Angry Birds Movie” final yr.

Rovio introduced in 153 million euros in earnings within the first part of 2017, just about two times what the company had in the similar length final yr. Profitability in that period of time just about quadrupled at 42 million euros this yr, in comparison to 11 million final yr.

But time will inform whether or not Rovio is in a position to outperform different cell gaming corporations that experience struggled as public corporations. Words With Friends-maker Zynga has had a risky journey at the inventory marketplace and so did Candy Crush-maker King, which sooner or later bought to Activision Blizzard.

A Finnish company, Rovio is checklist at the Helsinki Nasdaq. 

 

 

Featured Image: Feature China / Barcroft Images / Barcroft Media by the use of Getty Images

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