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Angry Birds developer says no IPO in 2012

Rovio says this year is "way too early" for an initial public offering; no decision yet made as to where or when it will list.

 

Angry Birds creator Rovio hatched a winner with its bird-flinging, pig-destroying mobile game, but the Finnish game company is going to incubate more before going public.

Speaking with international news house Reuters recently, Rovio marketing chief Peter Vesterbacka explained that the company will not file an initial public offering (IPO) in 2012.

"We are not in a rush," Vesterbacka explained. "This year is way too early for an IPO; there are too many open things, and we are in a very early stage of the Angry Birds life cycle."

As for which market Rovio is considering to file in, Reuters reports that the company had previously considered Hong Kong or New York, but Vesterbacka said no decision has been made.

"Hong Kong is very interesting, absolutely, but again it is totally dependent on how markets develop. Asia is where all the people are, and future growth," he said.

If Rovio does go public, it will join a series of recent tech companies in doing so, including casual game maker Zynga. The firm behind CityVille, FarmVille, CastleVille, and Texas HoldEm Poker went public in December and stumbled with a present valuation of $9.02 (at press time), well below the $10 it originally was listed for.

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"Angry Birds developer says no IPO in 2012" was posted by Eddie Makuch on Fri, 20 Jan 2012 07:36:52 -0800

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