CityVille, FarmVille Maker Zynga Nears IPO Filing (Report)

2:13 PM PDT 6/28/2011 by Georg Szalai

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The social gaming firm could file as early as Wednesday to raise up to $2 billion as it looks for a valuation of $15 billion-$20 billion, which could rival Yahoo's market value.

NEW YORK - Social gaming giant Zynga is preparing to file for its much-anticipated initial public offering as early as Wednesday and hopes to raise up to $2 billion by going public, the Wall Street Journal reported late Tuesday, confirming a report on CNBC.

The maker of such games as FarmVille and CityVille, which are popular on social networks, is looking for a valuation of $15 billion to $20 billion, according to the paper. The latter would be in the range of Yahoo's market value, which stood at $19.5 billion as of Tuesday's market close, according to Bloomberg data.

Gaming giant Activision Blizzard's market capitalization as of Tuesday's close stood at $13.3 billion, and Electronic Arts' at $7.5 billion, according to Bloomberg.

Zynga top executives are scheduled to attend Herb Allen's annual gathering of media, entertainment and tech moguls in Sun Valley next week.