18
Mar
angry-birds-peter-vesterbacka

The success that the Angry Birds games have brought to Rovio is stunning, really: the company was reportedly on the verge of bankruptcy when it released the game, and today, revenue is estimated to be between $50 and 70 million annually. It's perhaps no surprise, then, that the company raised $42 million in funding earlier this month, and they enjoyed the luxury of picking and choosing their investors. They even reportedly determined the terms of investment - quite the reversal of roles.

Rovio's valuation is estimated to be over $200 million already, but the company hopes that's merely the beginning. Rovio's Chairman of the Board, Kaj Hed (father of CEO Mikael Hed) says the company is "aiming to be as large as Facebook or Google." That's quite a long way to go, with recent valuations placing Facebook at $75 billion.

Interestingly, fellow gaming company Zynga (of Cityville, Farmville, and Texas HoldEm Poker fame) is valued at a whopping $7 billion. Considering Google was rumored to have dumped $500m into Zynga, it seems a safe bet that Rovio could soon face some competition in the Android Market.

Then again, Rovio's never been shy about their dislike of the Market, and they will be using the Amazon AppStore...

Aaron Gingrich
Aaron is a geek who has always had a passion for technology. When not working or writing, he can be found spending time with his family, playing a game, or watching a movie.

  • PeterF

    Shut up shut up shut up! Do people like hearing about this dumb game and the company which made it every day?

    • Simon Belmont

      In a word, yes. I love Angry Birds and I happy to see Rovio Mobile Ltd, doing well.

      It doesn't even matter what platform it's on, though I do mostly play on my rooted B&N Nook Color and my Sprint HTC Hero, but have on my Apple iPod Touch as well. The games speak for themselves and they are fun as all get out.

    • Jeff

      No one is making you read these articles.
      If you are really that sick of reading articles based on this game, thn look at the article title. If you see the words "Angry", "Birds" or "Rovio" in the title don't read it.

  • Tee

    Angry Birds is certainly one of the funniest and the most addictive games I have come across. The value of the company is well deserved.

  • mony1