Zynga, the games developer founded and led by Mark Pincus, has sold 100 million shares (around 11% of the company) at $10 each in its initial public offering, raising around $1 billion. This is at the top end of expectations. Two weeks ago its bankers projected a range of $8.50 to $10. The IPO values Zynga at around $7 billion, roughly 11 times last year’s sales. A good result, but still far less than recent social network offerings. A valuation of $20 billion dollars was suggested earlier this year. Zynga’s most-senior executives and early investors largely are holding onto their shares.
Zynga makes games mainly for Facebook. Games include FarmVille, Words with Friends, CastleVille, Adventure World and Mafia Wars 2.
USA, San Francisco, CA
- FT – Zynga IPO opens at top of price range
- WSJ Deal Journal – Meet the Zynga IPO Millionaires (and One Billionaire) Club
- WSJ Technology – Zynga IPO Set at $10 a Share
- Zynga acquires Conduit Labs Posted on August 19, 2010
- Zynga acquires social game developer Unoh Posted on August 13, 2010
- Zynga acquires Beijing-based XPD Media Posted on May 21, 2010
- Zynga has agreed to acquire fellow social games developer Serious Business Posted on February 16, 2010
- Social game firm Zynga raises $180M from Russian investor DST Posted on December 16, 2009
- Social gaming company Zynga raises $15.18M Posted on November 17, 2009