Zynga to Trade on Nasdaq
The maker of "FarmVille" and "Words With Friends" says that after its IPO it will trade under the symbol ZNGA.
Zynga, the top maker of games for Facebook, will trade on the Nasdaq Stock Market under the symbol ZNGA after its initial public offering, the company said Thursday.
Though Nasdaq has traditionally been the home of young technology companies -- especially Internet start-ups -- recent tech IPOs like LinkedIn and Pandora Media have gone with the New York Stock Exchange.
Zynga announced in July it was seeking to raise $1 billion in its IPO, though there's no specific date that it will debut as a publicly traded company.
Zynga is the company behind CityVille and FarmVille as well as popular word games like Hanging With Friends and Words With Friends. Usually simple to play, Zynga's games are free and the company earns revenue by selling upgraded versions and add-ons as well as advertising.
According to its website, 232 million people play Zynga games, with 60 million of them considered "daily active users."
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