Angry Birds company 'worth €6.82bn'
THE Finnish company behind mobile game phenomenon Angry Birds, has been valued at £5.5bn (€6.82bn) after a healthy set of financial results, according to analysts.
Rovio Entertainment, the makers of the mobile game, in which annoyed birds are deployed by sling shots to kill green pigs, earned £38.7m (€48m) pre-tax during 2011 and reached 200 million monthly active users across all platforms.
This figure compares favourably with US-based Zynga, the social games company behind the likes of Farmville and CityVille, which has 240 million monthly active users and many more games.
The total number of Angry Birds game downloads reached 648 million by the end of last year.
The company, which has since branched out into web games, stuffed toys and most recently - Angry Birds-themed activity parks, is also aiming to launch a non-Angry Birds title this year.
Its total headcount grew from 28 to 224 during 2011 as it attempted to capitalise on its huge popularity.
Rovio’s latest game, Angry Birds Space, has already been downloaded more than 50 million times in the 35 days since its launch in March.
The first Angry Birds movie is also being made after Rovio invested in its own animation studio – with shorts making their debut on YouTube in the meantime.
Andrew Stalbow, Rovio’s American chief, confirmed to The Telegraph last year that the hotly anticipated Angry Birds movie is slated for release in 2014, after a series of themed cartoons make their debut.
In 2012 Rovio acquired an animation studio in Finland to make the cartoons and the movie. However, Stalbow revealed no decisions have been taken as to how or where the movie will be made.
He said the company “had a real shot of growing the business to be a huge entertainment company” and that it would move beyond the Angry Birds game in due course.
Consumer products (toys and licensing) account for around 30 per cent of Rovio’s business last year.