Your friend Zynga has shares of its company that it would like to share with you. The creator of Farmville, Cityville, Mafia Wars, and several other casual online games is making a lot of money on idle clicks, and is now said to be ready to file for an initial public offering.
Kara Swisher at AllThingsD says the filing come could as soon as this week, as Zynga prepares to join new public Internet companies like LinkedIn (NYSE: LNKD), Yandex, Demand Media (NYSE: DMD), and others like Pandora that have recently filed to take on public financing. LinkedIn has a market cap of around $9 billion following last week?s IPO, and Yandex, a search engine in Russia, watched the prices of its shares soar 55 percent on their first day of sales.
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Zynga was judged more valuable than gaming juggernaut Electronic Arts (NSDQ: ERTS) last year, at least by the secondary stock market. Its brand of easy-to-use and quick-to-reward online games generate a huge amount of time spent on Facebook, and they are also good at getting people to pay real money for virtual goods. Zynga is estimated to be quite profitable and has been on a hiring spree, also disclosing plans to occupy some prime real estate in downtown San Francisco later this year.
Related StoriesPosted In: Entertainment, Games, Money, IPO, Social Media, Companies, Zynga
Source: http://paidcontent.org/article/419-report-zynga-ready-for-ipo-as-social-gaming-cashes-in/
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