Social gaming company Zynga is said to be ready to file for its IPO as soon as Wednesday and will aim to raise $1.5-2 billion in funding. If rumors that Zynga is offering less than 10 percent of its shares in the IPO prove to be true, then that means the company has a valuation in the region of at least $15-20 billion.
According to a tweet from CNBC’s Kate Kelly, Morgan Stanley will lead the sale, which contradicts a previous report suggesting that Goldman Sachs would act as the main underwriter of the IPO.
Zynga had reportedly been edging towards filing the required paperwork with the U.S. Securities and Exchange Commission for some time, so this news should not come as too much of a surprise. The company has several huge social gaming franchises in its catalog, including titles such as “CityVille” and “FarmVille” — which are respectively played by 90 million and 43 million Facebook users each month.
about 1 hour ago via webRetweetFavorite
The IPO will follow on from recent public sales by other social media companies. Renren became the first social network to go public on Wall Street last month and raised $743.4 million in the sale. LinkedIn followed soon after, and the valuation of the professional social network more than doubled in its first day of trading. Whether Zynga achieves similar success remains to be seen, but it appears as though we will find out very soon.
No comments:
Post a Comment