Angry Birds creators considering Hong Kong IPO

Summary:'Angry Birds' creators Rovio are considering a Hong Kong IPO in 2013 -- has plans to make the company a media giant the size of Walt Disney Co.

Rovio, the Finnish company behind the popular Angry Birds series, is considering a stock market flotation in Hong Kong.

They would be joining many other foreign firms that have gone public in Hong Kong, including Prada, L'occtaine and Samsonite.

"In Asia there are growing markets: the people and the money", Peter Vesterbacker, marketing chief of Rovio, told Reuters.

Vesterbacker says that no decision has been made yet, but it was reported last Friday that Rovio was looking at 2013 for the initial public offering.

However, Hong Kong is not the only option Rovio are considering. The company may also consider floating on the New York Stock Exchange.

(Source: Flickr)

Vesterbacker also revealed his aims for Rovio's future, such as being able to build the company into a media giant akin to Disney. "There is no reason we should not be able to build a company of that size," he said.

He added that Rovio's profits would be ten times their sum last year, anticipating around $100 million.

Rovio's success will depend on continued interest in the Angry Birds franchise, the company's flagship product.

Rovio have come a long way since forming in 2003. The company started by three students who won a game development competition by HP and Nokia.

Angry Birds has been a runaway success for Rovio, topping the charts as the most bought iPhone application earlier this month. It reached a record 600 million sales since its released in 2009, and Rovio has plans to expand the franchise.

Two more Angry Birds games have been released. Vesterbacka revealed that between 5 and 6 more games are planned for release in 2012.

The brand will expand outside of gaming, with a line of toys available and plans for a full-motion animated film expected in the coming 2--3 years.

Related:

Topics: iPhone, Hewlett-Packard, Nokia, Smartphones, Start-Ups, Tablets

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