Wed, Jun 29, 2011 | 01:11 BST

Rumour – Zynga to go public with $20 billion valuation

Multiple news sources have claimed social gaming king Zynga is about to go public with a massive IPO.

Bloomberg reports the company could be on the stock market as soon as tomorrow, and cited GreenCrest Capital Management LLC’s Nitsan Hargil, who apparently head it from one of Zynga’s early “major investor[s]“.

Hargil said financial services firm Morgan Stanley will underwrite the offering, and that Zynga is expecting to raise around $1 billion in the IPO.

The Wall Street Journal, which has claimed “people familiar with the matter”, reports the IPO could pull up to $2 billion, and said the company is seeking a valuation of $20 billion.

Nobody at Zynga or Morgan Stanley wants to talk about this, unsurprisingly.

Zynga will make $1.5 billion in sales this year and generate $500 million of net income, Hargil estimated.

Zynga’s latest game, Empires and Allies, has already outstripped its phenomenally successful precursors like Farmville and Mafia Wars.

Thanks, VentureBeat.

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7 comment-trail-alt Posted in: Rumour, Trade, Zynga

7 comments

#1

DSB
29/06/11, 1:51 am

Twenty…. Billion…. Dollars…. For making a bunch of bored housewives and socially needy chicks click their fucking cornfields/businesses/[insert next Zynga-created thing to mindlessly click on] repeatedly while inviting their friends, and spending 3 dollars a week just so they’ll have even more shit to click on.

… Fair enough! Hats off to you. I gotta go ponder the human race now.

#2

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29/06/11, 2:19 am

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#4

DSB
29/06/11, 4:06 am

@3

1. Curse your internet skills!!!
2. I actually thought of that while writing it
3. Never said I wasn’t a hypocrite, I very much am
4. Zynga “games” aren’t technically games. They’re just applications that allow you to watch your level go up, by recruiting friends and clicking on items in the game world. It’s as much a game, as beating your head against a wall, to see how much blood will come out of it
5. I’m not attempting to speak for any group, nor am I pretending like this is the only way to look at those games, unlike the guy I said that too. This is just my opinion, as mr anonymous internet person, and it’s no more valid than that
6. I congratulated them on making that much money out of so infinitely little, thus proving myself a fantastic sport, and allround great guy!

If you can make billions on applications that were so clearly only meant to stimulate the worlds’ lobotomized, and those who have suffered otherwise serious braindamage, you deserve my full respect.

Does that about cover it? :P

While we’re on the subject, though:
http://www.bogost.com/blog/cow_clicker_1.shtml

#5

Grimrita
29/06/11, 8:17 am

Zynga have replaced Oprah!

#6

mojo
29/06/11, 9:38 am

Zynga’s latest game, Empires and Allies, has already outstripped its phenomenally successful precursors like Farmville and Mafia Wars.

never heard of that game lol

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