Zynga was worth $11.5 billion in March, and is tailing Activision Blizzard

And it has soared past EA's $6.35 billion. In its most recently revised S-1 filing to the Security and Exchanges Commission (SEC), Zynga wrote that its valuation was at $11.5 billion in March of this year, TechCrunch reports. The FarmVille maker made a number of other revisions to its filing for IPO, or when the company will become available for public trade on the stock market. This means that Zynga is worth almost twice as much as EA, the veteran video games publisher responsible for iconic hardcore game franchises like Madden and Battlefield.

Not to mention it means that Zynga likely still intends to file for IPO, which many expect will raise another $1 billion for the company and boost its valuation to up to $20 billion, amidst a recent stock market plunge and shrinking confidence. This puts Zynga just under Activision Blizzard, the publisher known for the Tony Hawk and Guitar Hero series worth $12.17 billion, according to NASDAQ. Keep in mind, that this number is from five months ago. And is Zynga was just $500 million or so beneath Activision then, it could arguably be worth more than the company right now based on how fast it has grown.

However, valuation is based on a numerous amount of factors that contribute to market perception of a company's worth, and not necessarily actual net worth (as is market cap). In addition, the company might have made itself even more attractive to investors, writing that just 63 percent of its revenue comes from its top three games, CityVille, Empires & Allies and FarmVille. Compare that to four years ago, when 93 percent of its revenue came in from its top games.

The main takeaway here is that A. Zynga seems to have no intention of backing out on its IPO, which is said to happen this fall, and B. Zynga is worth lots and lots of money--possibly more than the most valuable games company in the world. I honestly thought I'd never see the day ... no, I'm not crying. Someone must be cutting onions in here. You can read the full SEC filing right here, if you want to be bored to tears.

[Image Credit: JoopDorresteijn]

Do you think Zynga could become the most valuable games company in the world? How will the previous giants of the industry react, and will they survive? Sound off in the comments. Add Comment.