FarmVille-maker Zynga might IPO as early as tomorrow
That was fast. CNBC reporter Kate Kelly tweeted today that Zynga will file for IPO as soon as tomorrow, and the company will raise an additional $1.5 to $2 billion. Not only that, but according to a CNBC broadcast regarding the news, Kelly put Zynga's valuation between $15 and $20 billion, which far exceeds any valuation to date. These are her words on that broadcast:
I'm hearing that Zynga is planning to file its IPO registration documents with the SEC as early as tomorrow. The game-maker, based in San Francisco, wants to raise between $1.5 billion and $2 billion dollars, I'm told, and has selected Morgan Stanley to lead its offering with Goldman Sachs in the secondary slot. [Bank of America], Barclays, and J.P. Morgan will also be involved from what I understand.
More importantly, that would make Zynga the most valuable games company on the globe after just four short years of existence. (EA is currently worth around $7.5 billion, while Activision Blizzard packs about $13.6 billion.) According to Kelly, Zynga has chosen Morgan Stanley, an investment firm, to lead the charge for at least a $1.5 billion-worth first outing.
We're sure the company is going to do just fine tomorrow, but it would be smart for CEO Mark Pincus to get his cross-platform games network off the ground A.S.A.P. if he wants to maximize this IPO. Especially if he wants to maintain the Zynga bulldog's lead on the pack of wild pups behind it. Grab your boards, because Zynga is about to make some serious waves in the videogames biz, brah.
[Via Inside Social Games]
[Image Credit: AllThingsD]
Do you think Zynga is going to IPO tomorrow, and will you throw a few bucks in? How do you think this will affect the other gaming companies? Sound off in the comments. Add Comment.
