Zynga's $1 Billion IPO Will Serve as Facebook's Opening Act

More

Zynga, the leading developer for Facebook and mobile games, will turn in the paperwork for their initial public offering on Wednesday, say multiple reports. The amount of money expected to change hands when the company's stock hits the market is staggering. According to The Wall Street Journal's sources, Zynga expects to raise up to $2 billion, a figure that puts the company's valuation between $15 and $20 billion.

CNBC's Kate Kelly, who broke the news of Zynga's intentions Tuesday afternoon, reports that Morgan Stanley and Goldman Sachs would underwrite the deal. "The expected Zynga IPO--which could come early this fall, on the heels of a midsummer SEC filing--marks another milestone in what is shaping up to be a euphoric period for Internet new issues," wrote Kelly. Indeed, the last Silicon Valley IPO of this size was Google, which raised $1.67 billion in 2004.

Read the full story at The Atlantic Wire.

Jump to comments
Presented by

The Atlantic Wire is your authoritative guide to the news and ideas that matter most right now.

Get Today's Top Stories in Your Inbox (preview)

Sad Desk Lunch: Is This How You Want to Die?

How to avoid working through lunch, and diseases related to social isolation.


Elsewhere on the web

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

Where Time Comes From

The clocks that coordinate your cellphone, GPS, and more

Video

Computer Vision Syndrome and You

Save your eyes. Take breaks.

Video

What Happens in 60 Seconds

Quantifying human activity around the world

Writers

Up
Down

More in Technology

Just In