The problem with Rovio going public isn't that the Finnish game maker is best known for its years-old hit, Angry Birds. The problem is that it is onlyknown for the Angry Birds franchise.

The company has proven itself adept at making the most of the hit game, to be sure, spawning years of sequels, merchandise galore, and even a blockbuster movie. The Angry Birds Movie, along with strong game sales, allowed revenue to nearly double last quarter, according to Rovio's earnings report Tuesday.

Yes, but: For a company that has touted itself as the next Disney, Rovio has failed to produce a second hit, let alone the steady string of successes needed to build a true entertainment powerhouse. Despite that, Bloomberg reports that the company wants to go public as soon as next month, raising as much as $400 million at a $2 billion valuation.

My thought bubble: Would-be investors would be wise to study a bit of company history. The company had released dozens of games before its first hit, the original Angry Birds, and nearly went out of business. More recently, the company had to retrench after its growth stalled and in 2015 the company was forced to make massive job cuts as its business came back to earth.

Go deeper

Updated 38 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8 p.m. ET: 19,497,292 — Total deaths: 723,854 — Total recoveries — 11,823,105Map.
  2. U.S.: Total confirmed cases as of 8 p.m. ET: 4,994,276 — Total deaths: 162,381 — Total recoveries: 1,643,118 — Total tests: 61,080,587Map.
  3. Politics: Trump signs 4 executive actions on coronavirus aid.
  4. Public health: Fauci says chances are "not great" that COVID-19 vaccine will be 98% effective — 1 in 3 Americans would decline COVID-19 vaccine.
  5. Science: Indoor air is the next coronavirus frontline.
  6. Schools: How back-to-school is playing out in the South as coronavirus rages on — Princeton, Johns Hopkins, Howard to hold fall classes online.

Trump signs 4 executive actions on coronavirus aid

President Trump speaking during a press conference on Aug. 8. Photo: Jim Watson/AFP via Getty Images

President Trump on Saturday signed four executive actions to provide relief from economic damage sustained during the coronavirus pandemic after talks between the White House and Democratic leadership collapsed Friday afternoon.

Why it matters: Because the Constitution gives Congress the power to appropriate federal spending, Trump has limited authority to act unilaterally — and risks a legal challenge if congressional Democrats believe he has overstepped.

8 hours ago - World

What's next for Lebanon after the Beirut explosion

Photo: Houssam Shbaro/Anadolu Agency via Getty Images

Beirut residents are still clearing rubble from streets that appear war-torn, days after a blast that shocked the country and horrified the world.

Why it matters: The explosion is likely to accelerate a painful cycle Lebanon was already living through — discontent, economic distress, and emigration.