Bloomberg is reporting today that Rovio has announced it is preparing for an IPO in 2012. “We’re not ready to file for an IPO tomorrow. Maybe a year from now.” Peter Vesterbacka, the Mighty Eagle of the company said on Bloomberg TV. He also went on to state that the company is insanely profitable. The valuation of the company is more than a billion dollars, sources close to Bloomberg state.
Vesterbacka also stated that the merchandise part of their business is now 10-20% of overall revenue. Stuffed toys, between $8.99 and $69.99 sell around a million items a month according to Vesterbacka. This leaves you only guessing where their overall revenues are currently.
In March this year, the company raised $42 million in financing Atomico Ventures and Accel Partners. It was also in March this year that we covered their first announcements of an IPO. I’m sure some of those plans were slightly put off by the dismal market conditions. Nevertheless – I for one believe 2012 could see Rovio IPO in New York. This would build them a significant war chest to further expand on their growth plans.