Wow, how prescient. Today Zynga did file for its own IPO seeking to raise 1billion but the company is valued at 9 billion as said in the title.
The social games maker, known for Facebook games like “FarmVille” and “Mafia Wars,” plans to sell 100 million new shares between $8.50 and $10 each, which will raise $925 million based on the midpoint of the range, according to a regulatory filing on Friday.
The deal values Zynga at as much as $9.04 billion, about a third less than the $14.05 billion valuation that the company cited in a filing two weeks ago.
one more thing:
Zynga aims to set its IPO price on December 15 and the stock is scheduled to trade on Dec 16.
Based on a fully diluted share count of 904 million, which includes existing shares and stock options, the IPO price values Zynga at $7.7 billion to $9.04 billion.
I have this IPO on my watch list. It’s in the works. Angie’s list and Groupon stock actually fell below the IPO price which is not good news for them. I did not buy either one. Everything in my portfolio showed a profit the day the market nearly reached 500 a couple of days ago.
The leading social games maker plans to sell 100 million new shares at between $8.50 and $10 each, according to a U.S. regulatory filing on Friday.
At the midpoint price, the IPO could raise $925 million, which would make it the largest from a U.S. Internet company since Google Inc raised $1.7 billion in 2004.