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Friday, March 18, 2011

Angry Birds creator Rovio plans to get into the stock market

The Finnish company, Rovio, developer of the popular Angry Birds mobile phone game, is going for IPO. With that end in mind, it raised $42 million.

The news was first published in a Finnish magazine, Talouselämä. In a statement issued by the company, it said, "The plan is to seek an initial public offering (IPO) in New York, but the specific timing and details are still open."

The company had the luxury to choose its financial backers. The list includes Accel Partners, Atomico and Felicis Ventures. Accel Partners was also an early investor in Facebook.

Rovio was founded in 2003. Over the years, the company produced more than 50 games for app stores. In December 2009, it launched Angry Birds for Apple App Store. It also launched the app in other app stores as well. Over the years, the game observed more than 75 million downloads.

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