Rovio – The Makers Of Angry Birds, Aim For A $1.2B Valuation
The most popular “Angry Birds” game that started its journey in December 2009 by launching its iPhone app, has now become such a massive success, such that even TVs want to get a piece of the fun of this Angry Bird. Rovio Entertainment, the makers of the popular $0.99 game, Angry Birds were not sure how much money the game or the company could be worth, but now situation is different, Rovio Entertainment is in talks to receive funding that would value the company at about $1.2 billion.
The Espoo, Finland-based game maker is considering taking a strategic investment from a company in the entertainment business. The name of the entertainment company couldn’t immediately be determined. Rovio has rejected similar offers from large institutional investors.
Rovio might use its new funds to fuel its expansion. The company is already in plan of making a “Angry Birds” movie and to open offices outside of Finland, and is seeking to establish its popularity of its brand in countries such as China, where it aims to sell its stuffed animals and clothing in of its character in 200 retail stores.
Michael Pachter, managing director of research at Wedbush Securities Inc. said
The most likely investors in Rovio include game developers Electronic Arts Inc. (ERTS) and Zynga Inc., and media giants News Corp. and Walt Disney Co. (DIS). These companies could help Rovio reach new audiences.
I can see how Disney would take ‘Angry Birds’ and turn them into a theme-park ride and a movie,
Zynga could take ‘Angry Birds’ and make it into ‘FarmVille.’
In March, Rovio received $42 million in funding from investors including Skype Technologies SA co-founder Niklas Zennstrom’s Atomico as well as Facebook Inc. backer Accel Partners.
“Angry Birds” is one of several Web games to be offered on Google Inc.’s new social-networking site.Surely their credibility for building good games precedes them if they chose to expand by making movies or even more smartphone games. As it stands, they’ve evolved to develop classics that pretty much everybody that owns a Smartphone, must have.