Zynga IPO leads social games investment spree; will the bubble burst?

Zynga is poised to present its multi-billion dollar IPO in a matter of days, PopCap is looking to do the same (much later), and countless developers are being bought, sold and invested in daily. Frankly, it's crazy town in the social games business these days.

For instance, as Zynga prepares to become at least the second most valuable game company globally compared to EA and Activision Blizzard (if not the most valuable), Google leads an $85 million investment in Kabam, creator of 'hardcore' social games like most recently Global Warfare, according to the San Francisco Chronicle.

All the while, Finnish developer Supercell has raised $12 million using a similar strategy, VentureBeat reports. If that wasn't enough, Turkish developer Peak Games just raised a cool $5 million to make more games for the Turkish, Middle Eastern and North African market, according to the Wall Street Journal. Crazy town, we say, but will things ever calm down?