Zynga IPO could challenge Google's high score
creator of Farmville and words with friends to go public in what may be the biggest launch of the technology since Google
Zynga, the social gaming company behind Farmville, words with friends and other online games, is preparing to go public on Friday in what could be the biggest IPO of a technology company since the beginnings of Google.
Over 60 million people a day play Zynga games. The firm hopes to raise at least $ 1 billion (£ 650m) and is expected to set a price per share on Thursday night.
Zynga would be worth $ 9 billion, less than half the $ 20 billion is expected in July before the stock market began to fall. However, the sale will become the largest Internet listing for a U.S. company for $ 1.9 billion IPO of Google in 2004, according to Dealogic. Flotation precedes a sale of shares is expected to Facebook next year, in what is likely to be the largest IPO ever social media.
Zyngafaces risks. Analyst Arvind Bhatia of Sterne Agee Group, released a report this week predicted the company would be "underperform" and set a price target of $ 7. He said growth slowed Zynga and margins under pressure.
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