Fri, Jul 01, 2011 | 20:29 BST
Zynga aims for $1 billion in IPO
One day your entire life will be part of some elaborate Zynga-fueled social game. The casual game developer announced today it was seeking a hefty $1 billion in its initial public offering.
The IPO is likely to gain Zynga a valuation of $10 billion.
Ever since the announcement, reporters have been combing over Zynga’s stats. Most have been surprised to find that the company only actually made around $90 million in profits this year.
Though many are quick to note that $90 million in profits still makes them the most profitable company to go public this year.
Zynga has taken this time to trumpet some of their stats such as their 232 million monthly users and 2 billion minutes of play per day.
2 comments
#1
Freek
01/07/11, 10:45 pm
You make 90 million in proffit, yet you’re worth 10 billion? How does the math work out on that one?
#2
Phoenixblight
01/07/11, 10:48 pm
@1
“As predicted, Zynga plans on becoming public, hoping to raise $1 billion in an IPO. The company issued an S-1 filing today, revealing some key facts about the company. While the $1 billion IPO will give the company a $10 billion valuation, Zynga has only made $90 million of profit in 2010. ”
Guess reading an article is out of the question?