Social gaming giant Zynga is going public.
The San Francisco-based company has just filed its S-1 with the SEC.
“The number of shares to be offered and the price range for the offering have not yet been determined,” according to a press release from Zynga. “A portion of the shares will be issued and sold by Zynga, and a portion will be sold by certain stockholders of Zynga.”
Though the filing claims that the company aims to raise $1 billion, TechCrunch suggests that this number could simply be a placeholder. Sources told Reuters that the company could raise as much as $2 billion, placing its value between $15 and $20 billion.
Underwriters include Morgan Stanley, Goldman Sachs, Bank of America, Barclays Capital, JP Morgan and Allen and Company.
Though only four years old, Zynga has developed a slew of popular web-based games like “FarmVille,” “CityVille” and “Zynga Poker.” According to the filing, these successful titles have helped attract nearly 60 million active daily users worldwide. In the first three months of 2011, the company reports a total revenue $235.4 million.
According to All Things D, this is “the first publicly held company that makes its revenues mostly from the sale of virtual goods.”
For more from Zynga’s S-1 filing, check out our look at the IPO by the numbers.
Source :- http://www.huffingtonpost.com
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