Angry Birds Developer Claims $1.2bn Valuation Is Too Low

By Darryl Kaye on October 14, 2011, 8:21AM EDT

The head of Angry Birds developer, Rovio, believes that the rumoured $1.2 billion valuation of the company is reasonable, but thinks the company is probably worth more.

"We're happy with our valuation but we think it's probably a bit north of that," said Peter Vesterbacka, the CEO of Rovio.

Vesterbacka pointed towards the large amounts of revenue streams the company has, with it no longer relying on sales of its products to fund growth. Instead, they sell millions of pieces of merchandise every month as well as having other venues, like movie licences.

Source: Joystiq

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