European social game companies Mind Candy and Sulake have revealed that they’re not looking for an IPO, despite high valuations put on U.S. start-ups. They said that they wanted to grow their businesses before launching an IPO.
“I just want to keep my head down and build an amazing brand without getting too distracted by the offers of IPOs, investment bankers and discussions with media companies,” said Michael Acton Smith, CEO of Mind Candy, makers of Moshi Monsters. “An IPO is something that we’re considering but I think it’s too early. There’s still a huge amount of value to be built.”
French mobile developer Gameloft’s Chief Financial Officer Alexandre de Rochefort thinks there’s a bit of a bubble in the U.S. IPO market. “I am sorry but when Zynga is worth $10 billion something is a bit strange” said de Rochefort. “If this is not a bubble, I don’t know what is.”
Source: Reuters
