Zynga IPO 2011 Aims $1 Billion from its 100 Million Shares

By on Dec 3, 2011 in Business, Gaming, Stock Market, United States, World Comments
Zynga logo

Zynga logo
Image Credit: Zynga.com

Zynga Inc. is aiming to raise $1 billion in its 2011 initial public offering (IPO) of about 100 million shares, according to reports by several international news sites on Saturday, December 3, 2011.

The online gaming company developed popular games mostly played on Facebook that include Farmville, Poker, Mafia Wars, Cafe World, Fish Ville, and many other games. The Zynga IPO 2011 is reportedly one of the precursors to the Facebook IPO in 2012 that could raise the social network giant’s cash by $10 billion.

Zynga plans to sell its shares at $8.50 to $10 each. The $10 per share will raise $7 billion for Zynga.
Reports say that the online game company expects to sell 14.3 percent of its available stock.

The company will use the IPO funds for game development, marketing and other expenses.

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