Everybody, start your engines: Zynga will go public on Dec. 16 [Report]
Did you remember your enormous salt shaker? Good, because Reuters reports that Zynga, everybody's favorite social game maker, will make its stock market debut on Dec. 16. According to Reuters, the CityVille creator will look to raise $900 million, a hair down from the almost unanimously-reported $1 billion that will bring its valuation to $14 billion.
But hey, that's still right on par with the most valuable games company in the West, Activision Blizzard. (Of course, Reuters cites "a source involved in the process.") Zynga will reportedly ask between $8 and $10 a share on the Nasdaq under the ticker ZNGA--a fairly noticeable one, no? However, Reuters does confirm that Zynga will start its roadshow next week to spur investor interest.
That is, if investors can look past the recent torrent of reports and quips that don't paint the prettiest picture of the company behind FarmVille. The New York Times allegedly revealed that Angry Birds maker Rovio turned down a $2.25 billion offer from the company, while a recent Wall Street Journal report seems to have exposed quite the stock scandal within Zynga. Worse yet, players are apparently leaving in droves. It's time for Zynga to shift into third gear: That $900 million is atop one giant hill.
Would you ever invest in Zynga at such a price? Do you think the company could at least become the second most valuable games company in the US? Sound off in the comments. Add Comment.