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Zynga IPO seeks up to $2 billion
by Andrew Yoon, Jun 29, 2011 8:45am PDTZynga is the most prolific game publisher on social networks today. With FarmVille, Mafia Wars, and more recently, Empires & Allies, under its belt, Zynga commands the attention of millions of Facebook users with time to kill. That makes Zynga one of the most desired properties on the web today, as investors are hungry to buy into social gaming.
According to CNBC, Zynga is seeking "between $1.5 billion and $2 billion" as part of an initial public stock offering (IPO) that could be underway by Fall. The billion dollar figure is staggering, but even more shocking is the implication of what that means for the company's total worth. CNBC suggests the company could be following the "low-float model," which has companies sell only 10 percent of their shares. If Zynga follows this model, they are trying to reach a public valuation of up to $20 billion. This proposed figure would be significantly higher than the $5 billion valuation pegged on the company last year, and would easily make the company larger than EA and Activision combined.
Until Zynga's IPO launches though, these numbers are not representative of the company's actual worth. Given the uncertain conditions of the market today, it will be interesting to see how investors respond in agreement with Zynga's astronomical potential valuation.
Comments
Zynga is seeking "between $1.5 billion and $2 billion" as part of an initial stock offering (IPO) that could make the company one of the largest in gaming.
Zynga is seeking "between $1.5 billion and $2 billion" as part of an initial stock offering (IPO) that could make the company one of the largest in gaming. : Shacknews
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My main gripe is that these games from Zynga are so simple and so bereft of creativity that it makes me kinda mad that some Indie devs who don't get the recognition they deserve for creating some serious masterpieces are sidelined over a company that focuses on churning out the same, tired repetetive forumlaic nonsense over and over.
I hate the idea that money made = level of success as a person, company whatever. I suppose it depends on your overall goal though and no company (even an Idie dev were they to become much bigger as a result of sales) is immune to the corporate machine.
I didn't mean to come across as a dick but I have a real issue with companies in a creative industry that focus more on making money than creating art (if that makes sense?). Sadly that seems to be most companies, which is I why I am persistently a grumpy motherfucker.
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