‘FarmVille’ creator Zynga to go public
Posted: 12:51 pm Fri, July 1, 2011
NEW YORK — Zynga, the online game maker behind “FarmVille” and other popular Facebook pastimes, is going public.
Based on papers filed on Friday, Zynga Inc. hopes to raise up to $1 billion in an initial public offering.
This amount will likely change. That’s because its bankers will now determine how many shares should be sold and at what price.
It’s the fourth and likely biggest in a crop of high-valued Internet IPOs recently filed or expected soon. LinkedIn Corp. and Internet radio service Pandora Inc. were first to go public. Daily deals site Groupon Inc. has also filed to go public soon.
Zynga’s filing follows LinkedIn’s sizzling stock market debut last month. Pandora also had a strong IPO but its shares later declined. Unlike Pandora, though, Zynga had a profit last year.
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