Angry Birds Seeks To Be Valued At $1.2 Billion

Aug 11, 2011
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Angry Birds Seeks To Be Valued At $1.2 Billion

According to Bloomberg, Rovio, the Finnish company behind the game phenomenon that is Angry Birds, is seeking funding that would value the company at around $1.2 billion. Who knew a game of flinging enraged birds at green pigs could be worth so much? Well, the game is the most successful mobile app yet, and it still has many big plans ahead.

The valuation figure comes from two sources familiar with the recent discussions, who say that Rovio is considering taking a strategic investment from a company in the entertainment business. This coincides with rumors that Rovio is in talks with Zynga about possibly an acquisition or a partnership, although this is purely speculation at this point.

The funds that Rovio is seeking will likely be used for further expansion, since the company has plans to produce an Angry Birds movie as well as open offices outside of Finland and to conquer China. Back in June, it was revealed that the company has plans to open over 200 Angry Birds merchandise stores throughout China within the next three years.

Rovio has also begun development of Magic Places, which incorporates NFC and location-based technology into Angry Bird's gameplay. Users can unlock special content by tapping NFC-enabled phones together or by traveling to certain locations. Its first implementation has been through the NOOK Color in partnership with Barnes & Noble.

[via Bloomberg]


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