Game giant Zynga on track for December IPO: report

Nov 30, 2011
Zynga logo. Online games giant Zynga is on track for a stock market debut in mid-December, the New York Times reported Wednesday.

Online games giant Zynga is on track for a stock market debut in mid-December, the New York Times reported Wednesday.

It cited an unnamed source as saying the company -- maker of and Farmville -- would revise its prospectus by the end of the week and be on track for an (IPO) by the middle of next month.

The company first filed paperwork for the IPO in July, aiming to raise some $1 billion, but has delayed the move because of market volatility. It is expected to command a market valuation of $15-20 billion.

Local bargain community Groupon, professional social network and consumer reviews website Angie's List each saw stock prices leap during initial public offerings (IPOs) this year.

But share prices in each company are now near or below where they were when the firms debuted on the trading floor, raising fears of another tech bubble like the dot-com boom of the late 1990s.

Founded in 2007, the San Francisco-based Zynga makes popular games that run on social networking site , including Zynga Poker and Mafia Wars.

The company boasts more than 230 million players per month, dwarfing its social gaming competitors.

According to its SEC filing, Zynga enjoyed $235.4 million in revenue in the first three months of the year, compared to just $100.9 million in the same period of 2010.

Facebook itself is reportedly mulling its own IPO as early as April of next year, a move hotly anticipated by investors and one that could see the company valued at more than $100 billion.

Explore further: Airbnb rental site raises $450 mn

add to favorites email to friend print save as pdf

Related Stories

Zynga builds social network as IPO looms

Oct 12, 2011

Zynga is building a game-themed social network in a move that promises to reduce its dependence on Facebook as it prepares for a billion-dollar debut in the stock market.

'FarmVille' creator Zynga to go public

Jul 01, 2011

(AP) -- Zynga, the online game maker behind "FarmVille" and other popular Facebook pastimes, is going public, the latest in a crop of high-valued Internet IPOs expected after LinkedIn Corp. showed that the ...

Online review site Yelp planning IPO: WSJ

Nov 08, 2011

Yelp is moving ahead with an initial public offering that would value the website which posts user reviews of businesses and services at $2 billion, The Wall Street Journal reported on Tuesday.

Recommended for you

Airbnb rental site raises $450 mn

3 hours ago

Online lodging listings website Airbnb inked a $450 million funding deal with investors led by TPG, a source close to the matter said Friday.

US venture investments highest since 2001 (Update)

Apr 18, 2014

Funding for U.S. startup companies soared 57 percent in the first quarter to a level not seen since 2001, as venture capitalists piled more money into a growing number of deals, according to a report due out Friday.

User comments : 0

More news stories

Health care site flagged in Heartbleed review

People with accounts on the enrollment website for President Barack Obama's signature health care law are being told to change their passwords following an administration-wide review of the government's vulnerability to the ...

Airbnb rental site raises $450 mn

Online lodging listings website Airbnb inked a $450 million funding deal with investors led by TPG, a source close to the matter said Friday.

Under some LED bulbs whites aren't 'whiter than white'

For years, companies have been adding whiteners to laundry detergent, paints, plastics, paper and fabrics to make whites look "whiter than white," but now, with a switch away from incandescent and fluorescent lighting, different ...