Mind Candy: Coming to America
Moshi Monsters heads to the US before going public
UK company Mind Candy is heading to the United States in a bid to attract further interest from the world's largest consumer market before opening itself up to a public offering.
Chief Executive Michael Acton Smith told Reuters: "We can't stay necessarily stay private forever. We have a lot of shareholders and we don't want to sell. Going public at some point is the smartest way forward."
This year would be too early for an IPO but it could be in the next few years," he said.
The company is best known for the huge phenomenon "Moshi Monsters", which is targeted at children ages 6 to 11. Acton Smith, who founded Mind Candy in 2003, said the firm sold $100
million worth of "Moshi Monsters"-related merchandise this year.
In the last two years, Mind Candy has signed 100 licensing deals, publishes a magazine and is even in talks to make a movie. The company also has a book deal with Penguin.
Some current licensing deals are with Mega Bloks and Activision Blizzard to make a Nintendo DS game.
Candy revealed at the new York Toy Fair last week that he wants 'Moshi' to become a househould name in the US, and to do that he needs to sell more of these licensed products.
The company was valued at $200 million last year, and is reported to now be marked substantially higher.
Watch this space for more.
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