Zynga aims for $1 billion in IPO

Friday, 1 July 2011 20:27 GMT By Andrew Groen

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.