Zynga reveals intent to go public
Zynga today announced the launch of its new, sure-to-be-massive 'Ville social game, in which players from disparate backgrounds will be able to log on, buy a portion of a company through microtransactions and watch their profits grow!
This new venture differs from other Zynga hits like FarmVille and FrontierVille in just a few key ways.
1. It doesn't actually have "Ville" in the title.
2. Players play with actual, totally real money.
3. Players' company won't necessarily grow. In fact, it may shrink through no fault of their own.
4. The company is Zynga, which made almost $600 million in revenue in 2010.
5. It's not a game, but a stock offering.
OK, so maybe Zynga's filing of an S-1 form, detailing its intent to become a publicly traded company at some point in the future, isn't a new game announcement. But if you guys know of a better way to trick you into reading a story involving both the stock market and casual games, we'd love to hear it.
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Zynga Files Registration Statement for Proposed Initial Public Offering
San Francisco, Calif. - July 1, 2011 - Zynga Inc. announced today that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering of its Class A common stock. The number of shares to be offered and the price range for the offering have not yet been determined. A portion of the shares will be issued and sold by Zynga, and a portion will be sold by certain stockholders of Zynga.
Morgan Stanley & Co. LLC and Goldman, Sachs & Co. will be joint bookrunning managers and representatives of the underwriters for the offering. BofA Merrill Lynch, Barclays Capital Inc. and J.P. Morgan Securities LLC will also be joint bookrunning managers, and Allen & Company LLC will be a senior co-manager for the offering. This offering will be made only by means of a prospectus. A copy of the preliminary prospectus, when available, may be obtained from the offices of Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by email at prospectus@morganstanley.com, or Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, New York 10282, or by e-mail at prospectus-ny@ny.email.gs.com.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
