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

What Software Powers the Live Casino Experience?

By: Special Guest    5/10/2021

Live casinos have been around for some time, but they are still widely considered the new kid on the block. They've been a revelation for thousands of…

Read More

What Tech Do Designers Use to Make a Casino Game?

By: Special Guest    5/6/2021

Designers use the latest technology to bring you the great games you see at real money casinos in 2021. It is complex to the average person who simply…

Read More

World Password Day: Password Protection Needs a Fundamental Change

By: Special Guest    5/6/2021

A 2019 Google study found that 75% of the Americans admit to struggling with so many passwords, that many end up reusing the same password across mult…

Read More

Important Information About Bitcoin Wallets for Beginners

By: Special Guest    5/6/2021

Bitcoin is one of the most sought-after assets in any investor's portfolio. The price of BTC has exceeded $60,000, and its market cap has also exceede…

Read More

Is VR the Next Step for Mobile Gamers?

By: Special Guest    5/5/2021

Mobile gaming is fantastic. It is possible to sit on a train and play some of the latest video games using a mobile phone. If you look back at some of…

Read More