Zynga to Raise $1 Billion in IPO [REPORT]

Recent reports suggest that the popular online game developer Zynga is going to offer 100 million shares to the public at $10 each for a potention $1 billion Initial Public offering (IPO).

Although, Bloomberg reported the figures that Zynga wants to raise through IPO, it didn’t provide any further details. Zynga representatives could not be reached for immediate comment. Some similar news has been reported by The Wall Street Journal suggesting that Zynga was hoping to file a final IPO price this week.

Compared to earlier reports of share price ranging from $8.5 to $10, the current $10 per share is certainly on the higher side. Zynga has realized the worth of its company in the recent months through the popularity of its games on social networking platforms, particularly Facebook.

The IPO was filed to go in July earlier, but considering the volatility of the market, Zynga postponed it for later time. Initially, Zynga was intended to raise $2 billion for a valuation of $20 billion. As the reports suggest, with the current price, Zynga’s valuation would be somewhere around $10 billion.

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