Casual specialist Zynga submits S-1 IPO filing
by Steven Mostyn - Jul 1 2011, 19:33
The dog's... Image: Zynga.
Having already become the biggest player in the mobile market, heavyweight casual videogame maker Zynga clearly has its sights set on bigger and better things.
More pointedly, Wall Street Journal blog AllThingsD is reporting that the California–based company has submitted an S-1 IPO filing and plans to raise a whopping $1 billion USD in funds.
However, anonymous sources have indicated to Reuters and The New York Times that the actual figure could be as high as $2 billion USD, which would place the company’s value close to $20 billion USD.
According to the filing, Zynga’s revenue has risen from $19.4 million USD in 2008, through to $597.5 million USD in 2010, and a staggering $235.4 million USD during 2011’s opening quarter.
Zynga, which has garnered considerable success through the sale of virtual in-game goods and embedded gameplay effects, is responsible for creating hit Facebook titles such as Farmville and Mafia Wars.
As a result of its placement on the world’s largest social network, which it cites as vital to its ongoing progress, Zynga has managed to amass some 215 million monthly users and a workforce of around 1,300 people.
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