Will Angry Birds Lay a Golden Egg on Wall Street?
That’s one egg the Pigs will definitely be after, but that Wall Street egg might not come for some time. Instead of the U.S. market, Angry Birds developer Rovio is eyeing the Hong Kong Stock Exchange for an IPO sometime next year. (An IPO, or Initial Public Offering, is when a company first offers shares of stock on a public stock market at a price determined by the company. The main purpose is to raise money from investors.) The United States’ main stock exchange, the New York Stock Exchange (Wall Street) is being considered by Rovio as well, but the company is planning to hold off on that move for another two or three years.
There’s no doubting Rovio’s potential – Angry Birds has become to app gaming what Google is to search engines (might be an overstatement, but you get the idea). As if the Pig bashing wasn’t lucrative enough, the Angry Birds brand has also become a global merchandise monster. Throw in the supposedly upcoming Angry Birds movie (I’ll reserve judgment on that one for now) and six planned game sequels for 2012, and you’ve got the look of a winner. The numbers bear it out, too – Rovio anticipates revenues of $100 million this year, compared with $10 million last year. That’s still a far cry from Rovio’s stated goal of achieving a market capitalization equal to that of Disney (hey, it’s good to dream big, right?). That said, if Rovio is going to launch some bomb birds at Disney’s ivory tower, an IPO is a good start. Who knows what the future holds?
Actually, we do know what the future holds. More Angry Birds. A lot more Angry Birds. And, hopefully, more unreasonably adorable promotional videos, like the one just released for the new Angry Birds levels in Wreck the Halls.
Via the Hollywood Reporter