Rovio Entertainment Oy, the maker of the Angry Birds is planning an initial public offering as early as next month seeking to raise some $400 million. That could value the Finnish game studio that created the mobile game megahit at about $2 billion, Bloomberg reported.
The company reported 190 million euros in revenues 2016, that is almost 34% of revenue growth. Earnings before interests and taxes amounted to €17,5 million, which is quite impressive after recent years' losses.
The studio’s recovery and growth was fuelled by the Angry Birds Movie, that boosted game revenues and made about $350 million in worldwide box-office sales.
IPO is expected to help the company fund the “Angry Birds Movie 2,” scheduled for 2019. Rovio Entertainment Oy is also focusing on fueling demand for game titles such as Battle Bay and refreshed and updated Angry Birds.