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Tuesday, June 28, 2022

Did Rovio Do $2.4 Billion In Revenue In 2012?

Remember last year when there were rumors of Rovio IPOing in Hong Kong or some Asian market? Well scratch that because they might be doing enough in revenue to give them little benefit in raising money. How much are they moving? Maybe about $2.4 Billion last year, depending on who you’re listening to.

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The media is reporting that Vesterbacka said Rovio did revenue of about $3 billion over the last three years. Marketwatch does the math that the company must have done $2.4 Billion in 2012, given that the Espoo-based company did $550 million in 2011, and $50 million in 2010.

But looking at their posted Finnish numbers, Rovio claims only about €75 million in revenues. This number quoted by Vesterbacka could then mean the sum of all retail products sold, or some other metric.

As much of a hard time as I give them for their sugar water, licensing is bringing in obviously a ton of money. Their soft drink (sugar water) sector is exploding, and in Finland we’re seeing everything from candy to coffee branded with familiar angry faces.

Currently Rovio has 550 employees compared to 200 a year ago. Angry Birds has had roughly a quarter of a billion users since created in 2009.

I’m literally writing this article from a moving car right now, so I can’t get to the bottom of this now. Are any of our readers up to some detective work?

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