Clash of Clans Boss Rules Out IPO | GeekShizzle

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Clash of Clans is by far the most profitable mobile app to ever hit any app store ever. The logical path for Supercell, the company behind this successful app

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Recently the Supercell boss permanently ruled out an IPO, claiming that it would squash his company’s ability to be creative and take risks. Ilkka Paananen, co-founder and chief executive of Supercell, the Finnish developer behind Clash of Clans, the highest-grossing app of all time, said that he would never consider taking his company public.“Why would we consider an IPO?” he said. “We’re only 190 people. We’re small and highly creative. That’s not the best fit for the public markets which are all about the next quarter’s results.”

Paananen said that the success of the business hinged on giving his games developers the “freedom to fail” and that only one in 10 games usually proved a hit, which was not a model that would be readily understood by the public markets.

“We have no plans to go public,” he told The Daily Telegraph in Monaco, where he was representing Finland in the World Entrepreneur of the Year awards, created by professional services firm EY.

 

“We have no management here and the teams are small, sometimes just two people. I don’t know what many teams are working on. We allow our developers to be entrepreneurs.”

 

You have to think long term and take risks. We will develop 10 games but only one will be successful. Our developers must be completely safe to failSupercell boss Ilkka Paananen

 

The 37-year-old serial entrepreneur, who wears a Supercell t-shirt every day, founded the business in 2010 with fellow videogame maker Mikko Kodisoja. Supercell’s hit games, which include Clash of Clans and Hay Day, have 100m players worldwide. Clash of Clans allows players to unite in teams and battle one another, while Hay Day is a farm simulator game.

Supercell is planning to leverage Finland’s reputation as a great place to live to tempt in talent from all over the world, he said. “Our goal is to create the world’s best place for creative people to create games.” The company recently launched Clash Royale, which is a real-time player-versus-player game, which Supercell hopes will generate a new niche in the nascent esports market.