Zynga May File Papers on Wednesday for IPO

By

Zynga – the online social gaming site – may file papers on Wednesday for an IPO – with the site planning to raise $1.5 billion to $2 billion through the initial public offering, Reuters reported.

In a story appearing on Tuesday, Reuters said Zynga may be valued as high as $15 billion to $20 billion with the IPO.

Earlier this year, Zynga was reported to have a value of between $7 billion and $9 billion, according to a report on TechZone360.

That is an increase from April 2010, when the company gave a value of about $4 billion, according to The Wall Street Journal.

Morgan Stanley is expected to be the lead underwriter for the likely IPO.

Zynga has 275 million users a month, The Journal says. The company earned about $400 million in profit in 2010, with approximately $850 million earned in revenue, The Journal said. The company is a start-up and is just three years old.

As of earlier this year, Zynga raised about $360 million from venture-capitalists and other investors, The Journal reports. Google also invested in the company.

In other recent company news, Zynga announced the launch of CityVille Hometown, its first mobile game offered in French, Italian, German and Spanish. CityVille Hometown has elements from the CityVille game but has a small-town focus.

CityVille Hometown will also be available in English in Canada via the Apple App Store on iPad, iPhone and iPod touch, and will be available globally in the five languages.

CityVille Hometown lets players build a community and provides access to friends on Facebook.

Tuesday’s news about Zynga’s possible IPO brings to mind the most awaited IPO of any social media company – Facebook.

Facebook may have an IPO next year, TechZone360 reported.

In conjunction with the IPO, Facebook may have a valuation as high as $100 billion, according to TechZone360.

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO West 2011, taking place Sept. 13-15, 2011, in Austin, Texas. ITEXPO offers an educational program to help corporate decision makers select the right IP-based voice, video, fax and unified communications solutions to improve their operations. It's also where service providers learn how to profitably roll out the services their subscribers are clamoring for – and where resellers can learn about new growth opportunities. To register, click here.



Ed Silverstein is a TechZone360 contributor. To read more of his articles, please visit his columnist page.

Edited by Jennifer Russell

TechZone360 Contributor

SHARE THIS ARTICLE
Related Articles

The Remarkable Story of Datamation, America's First Computer Magazine

By: Special Guest    8/4/2021

In 1957, America's first computer magazine, Datamation, was launched, the name created by combining the words data and automation.

Read More

Finding Rare Parts for Your Electronic Device

By: Special Guest    8/4/2021

Getting the right electronic components for your device isn't always easy. Unfortunately, some parts are rarer than others and those that are particul…

Read More

Technology has fueled the growth of the e-Sports industry

By: Special Guest    7/28/2021

Participation in e-sporting betting activities has been on the rise, and technology is the main driver of growth in this industry.

Read More

Widely Used Wireless Technologies for IoT Applications

By: Special Guest    7/28/2021

The Internet of Things is a common term in the tech world; however, it is rarely heard among the general population. Although we are all impacted and …

Read More

Why Should One Work On Increasing The Followers On Social Media?

By: Special Guest    7/28/2021

The world today relies on digital ways of life. People are more into social media. A few years ago, social media was just a place to connect and keep …

Read More