Zynga IPO Aims to Value Company at Lower-Than-Expected $10 Billion (Report)
The social gaming powerhouse's market value would come in below that of gaming giant Activision Blizzard.
NEW YORK - Zynga, the company behind such Facebook games as FarmVille, CityVille and Mafia Wars, is targeting a lower market valuation in its upcoming IPO than originally expected, Reuters reported.
Given a still-rocky stock market, it said the social gaming firm is looking for a valuation of up to $10 billion, Reuters said. Other reports said it could be as low as $7 billion.
When it originally filed for an IPO this summer, some predicted a $15 billion-$20 billion valuation. The company later mentioned a third-party estimate that put its value at $14.05 billion.
Based on Wednesday closing prices, video game giant Activision Blizzard had a market capitalization of $14.2 billion. Electronic Arts was worth $7.7 billion.
Zynga's IPO is expected to price its shares in mid-December at $8-$10 each, which would raise $900 million, Reuters reported.
The company is set to launch a so-called road show to market its IPO on Monday.
- MOST SHARED
- MOST POPULAR
- 'Captain America' Conquers Box Office For Third Straight Week
- Jordin Sparks' Wears A Bikini To The Opening Of Tao Beach, Jason Derulo Joins Her In Gym Clothes
- Watch Bruce Springsteen Cover Van Morrison's 'Brown Eyed Girl'
- Patrick Stewart And Ian McKellen Play The Newlywed Game, Continue Being The Internet's Most Adorable Sirs
- Justin Bartha & Lia Smith Reportedly Welcome Baby Girl!
- Idina Menzel Sings 'Take Me or Leave Me' with Two Lucky Fans for Charity - Watch Now!
- Vanessa Hudgens Sees Hearts While Dancing at Coachella!
- 'Captain America: The Winter Soldier' Tops Easter Weekend Box Office While Johnny Depp's 'Transcendence' Fails to Impress