game on zynga seeks to raise 115 bn in ipo
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Game on: Zynga seeks to raise $1.15 bn in IPO

Arab Today, arab today

Arab Today, arab today Game on: Zynga seeks to raise $1.15 bn in IPO

New York - AFP

Zynga plans to raise up to $1.15 billion in a highly anticipated initial public offering that values the US online games giant at $7 billion. Zynga, in a filing with the US Securities and Exchange Commission (SEC) on Friday, set the price for its IPO at between $8.50 and $10 per share. The company plans to offer 100 million shares, or 14 percent of its outstanding shares, and its underwriters have the option of selling an additional 15 million shares. Zynga will trade on the Nasdaq under the ticker symbol "ZNGA." Zynga could begin trading some time in the next two weeks, according to Renaissance Capital, a research company that specializes in IPOs. Founded in 2007, the San Francisco-based Zynga makes popular games such as "FarmVille," "CityVille," "Mafia Wars" and "Zynga Poker" that run on Facebook and other sites. The company boasts around 230 million players per month in 175 countries, dwarfing its social gaming competitors, and reported cumulative revenue of $1.5 billion in its SEC filing. Revenue soared nearly five-fold last year over the previous year to $597.4 million and Zynga reported a net profit of $27.89 million. For the first nine months of this year, Zynga reported revenue of 828.9 million, up from $401.7 million during the same period last year. Zynga games are free to play but the company makes money by selling virtual in-game goods to players and serving up advertising. Zynga filed with the SEC to go public in July but the listing has been delayed by volatility in the stock market and the uncertain outlook for IPOs. Online daily deals sensation Groupon went public last month, raising $700 million in the biggest initial public offering by an Internet company since Google. Groupon began trading on the Nasdaq at $20 and its shares rose as high as $31.14 on the first day. Groupon shares fell below their list price last week, however, and they closed at $18.95 on Wall Street on Thursday. Career-oriented social network LinkedIn went public in May at $45 a share and closed at $67.78 on Thursday.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

game on zynga seeks to raise 115 bn in ipo game on zynga seeks to raise 115 bn in ipo

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

game on zynga seeks to raise 115 bn in ipo game on zynga seeks to raise 115 bn in ipo

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday