Rovio, the unicorn startup behind Angry Birds, is said to be plotting an IPO

 
Lynsey Barber
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SONY Premiere Of 'Angry Birds - Der Film' In Berlin
Rovio returned to profit in 2017 thanks to the Angry Birds movie (Source: Getty)

Rovio, the tech company behind hit game Angry Birds, is said to be plotting an IPO.

The Finnish unicorn startup could go public on a local market as soon as next month, Bloomberg reports, and could value it at as much as $2bn (£1.54bn).

A decision has not been made, according to unnamed sources cited by the publication.

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Rovio has struggled to replicate the success of Angry Birds with other games, but has continued to dine out on its success with a movie tie-in.

It returned to profit at the start of 2017 after a rough few years of losses, job cuts and changes in leadership. Earnings before interest and taxes in 2016 came in at €17.5m (£15.9m), up from a €21.1m loss the previous year, while revenue grew 34 per cent to €190.3m.

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It is one of the most valuable startups in Europe and has raised $76m from venture investors Atomico, Accel Partners and Felicis Ventures, according to Crunchbase, along with a debt financing from the European Investment Bank (EIB).

Rovio would be among several large European tech IPOs in 2017. Delivery Hero went public in June at a value of $5.3bn while Spotify is expected to list by the end of the year.

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