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

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.

Presented by

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

Riding Unicycles in a Cave

"If you fall down and break your leg, there's no way out."

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

Riding Unicycles in a Cave

"If you fall down and break your leg, there's no way out."

Video

Carrot: A Pitch-Perfect Satire of Tech

"It's not just a vegetable. It's what a vegetable should be."

Video

An Ingenious 360-Degree Time-Lapse

Watch the world become a cartoonishly small playground

Video

The Benefits of Living Alone on a Mountain

"You really have to love solitary time by yourself."

Video

The Rise of the Cat Tattoo

How a Brooklyn tattoo artist popularized the "cattoo"

More in Technology

Just In