Angry Birds maker seeks funds at $1.2 billion valuation

Rovio seeks funds at $1.2 billion valuation

Rovio is hoping to turn Angry Birds into the next Mario and the company is looking to raise funds at a valuation of about $1.2 billion, according to a report in Bloomberg.

Rovio had previously raised $42 million but it appears like it needs more cash to expand. On its ambitious schedule is a full-featured movie, opening more offices outside of Finland, producing more physical products like cookbooks and plushies and expanding into the red-hot Chinese market.

The Angry Birds franchise has been a smash hit and it can be found on nearly any modern platform now, including the web. It has completely gone mainstream and some analysts tell Bloomberg that the potentials for expansion are endless – anyone want to go on an Angry Birds theme park ride?

As I’ve mentioned before, I like Rovio because it’s not a one-hit wonder. The company produced more than 50 mobile games before Angry Birds popped and it has smartly been able to change its monetization strategy to adjust for platforms. Once it does get that funding, it will be interesting to see how if its Finland headquarters gets a massive revamp. Check out my tour of the Angry Birds nest to see how the magic is made.

[Via Bloomberg]

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