It’s been talked about for years, but Rovio’s plans for an IPO were put on ice as the creator of Angry Birds struggled with the same problem most mobile game developers face — finding a second hit. Rovio still hasn’t managed that, but with a new growth spurt brought on by last year’s Angry Birds Movie, they’re feeling good enough to load up that slingshot and take aim at the pigs in the Wall Street castle.
Well, they’ll take aim at whatever the equivalent of Wall Street is in Finland, anyway. Reuters reports that the Finnish company plans to raise €30 million to grow its budding media empire, which seems like it will still depend heavily on Angry Birds. In addition to the scads of Angry Birds apps available (and the microtransactions they bring in), Rovio is also planning a sequel to last year’s movie for 2019. No surprise there — per Deadline, the Angry Birds Movie netted about $72 million thanks in part to a strong international showing.
The big question is where all of the IPO cash will go. As usual, a big chunk of the money raised will amount to a victory lap for investors — the Reuters report indicates that longtime investors like Accel Partners and Atomico will be selling some of their shares to the public. That’s in addition to new shares Rovio will sell to raise money for the company.
The IPO itself is still up in the air. While Rovio has announced plans to move forward with the IPO, they haven’t established any sort of timeline yet, let alone an actual IPO date. It might rely on the continued growth of the company, but with the past year seeing huge increases in revenue and profit, that seems pretty likely.