Zynga's IPO road show begins, expects to raise $1 billion
Zynga is doing extremely well, especially for a company that started by piggybacking on a social-networking site, Facebook, and making games about farming. Zynga is in the process of launching its IPO, and while it won't be worth as much as initially expected this summer -- dropping from an expected high of $20 billion to a current possible low of about $10 billion -- Zynga is positioned to be worth more than EA, currently valued at $7.7 billion, and to compete with Activision Blizzard, which is valued at $14 billion.
Zynga plans to raise roughly $1 billion for its IPO and has begun a nine-day pitch process to convince investors that the company is truly worth it, with plans to sell shares for $8.50 to $10 each under the Nasdaq label, "ZNGA." Zynga's offerings would mark the largest for a U.S. Internet company since Google in 2004, but with Facebook expected to eclipse it in 2012.
If you're an interested investor, surveyor or slideshow-lover, you can view Zynga's complete IPO presentation right here.
