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Nov 22, 2010
Rovio Entertainment Ltd. or Rovio is a Finnish computer game developer founded in 2003 as Relude, and in 2005 renamed as Rovio, based in Espoo. The company is best known for its game Angry Birds for mobile devices.

In 2003, three students from Helsinki University of Technology (currently Aalto University School of Science and Technology), Niklas Hed, Jarno Väkeväinen, and Kim Dikert participated in a mobile game development competition at the Assembly demo party sponsored by Nokia and HP. A victory with a real-time multiplayer game called King of the Cabbage World compelled the trio to set up their own company, Relude. King of the Cabbage World was sold to Sumea (now Digital Chocolate), and renamed to Mole War, which became the first commercial real-time multiplayer mobile game in the world.

In January 2005, Relude received its first round of investment from a business angel, and the company changed its name to Rovio Mobile.

In December 2009 Rovio released Angry Birds, a catapult-puzzle game for the iPhone. Angry Birds has since been downloaded over 500 million times, with paid downloads accounting for more than 25% of total downloads, making it one of the most sold games in the Apple App Store.

In March 2011 Rovio raised $42 million in Venture Capital Funding from Accel Partners, Atomico and Felicis Ventures.

In July 2011, the company changed its name to Rovio Entertainment Ltd.

Source: Wikipedia