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)

Why Are Americans So Bad at Saving Money?

The US is particularly miserable at putting aside money for the future. Should we blame our paychecks or our psychology?


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

The Death of Film

You'll never hear the whirring sound of a projector again.

Video

How to Hunt With Poison Darts

A Borneo hunter explains one of his tribe's oldest customs: the art of the blowpipe

Video

A Delightful, Pixar-Inspired Cartoon

An action figure and his reluctant sidekick trek across a kitchen in search of treasure.

Video

I Am an Undocumented Immigrant

"I look like a typical young American."

Video

Why Did I Study Physics?

Using hand-drawn cartoons to explain an academic passion

Writers

Up
Down

More in Technology

Just In