By: Aseem Gaurav on July 1, 2011
Zynga, the company that makes FarmVille and other social games, is the latest in a series of social media companies seeking capital in the US public markets.
The company has filed paperwork for an initial public offering that could raise from $1.5 billion to $2 billion. However, it did not mention the number of share it is looking to sell or the price range of shares. The proceeds will be used for general corporate purposes.
Before Zynga, firms like LinkedIn, Pandora Media and Yandex NV all went public in the past two months.
The company has chosen Morgan Stanley to be the lead underwriter of an offering. Other bankers include: Goldman Sachs, J.P. Morgan Chase, Bank of America Merrill Lynch and Barclays Capital.
Those close to the deal say the IPO may raise as much as $2 billion, which could value the company as high as $20 billion.
In terms of sales, Zynga earned $11.8 million on sales of $235.4 million in the first three months of 2011.
Within four years, Zynga has grown to be one of the most recognized names in the gaming world. The company’s newest offering, "Empires & Allies" is now the second most popular app on Facebook.
Zynga, the company that makes FarmVille and other social games, is the latest in a series of social media companies seeking capital in the US public markets.
The company has filed paperwork for an initial public offering that could raise from $1.5 billion to $2 billion. However, it did not mention the number of share it is looking to sell or the price range of shares. The proceeds will be used for general corporate purposes.
Before Zynga, firms like LinkedIn, Pandora Media and Yandex NV all went public in the past two months.
The company has chosen Morgan Stanley to be the lead underwriter of an offering. Other bankers include: Goldman Sachs, J.P. Morgan Chase, Bank of America Merrill Lynch and Barclays Capital.
Those close to the deal say the IPO may raise as much as $2 billion, which could value the company as high as $20 billion.
In terms of sales, Zynga earned $11.8 million on sales of $235.4 million in the first three months of 2011.
Within four years, Zynga has grown to be one of the most recognized names in the gaming world. The company’s newest offering, "Empires & Allies" is now the second most popular app on Facebook.
