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Zynga amends IPO filing

By Rachel Weber

Fri 12 Aug 2011 10:20am GMT / 6:20am EDT / 3:20am PDT

Changes to revenue and employee numbers prove that social networking giant is going ahead with IPO

Social gaming giant Zynga has revised the S1 document for its much publicised initial public offering. The amendments to the filing affect revenue reported for the quarter ending March 31.

"We have restated our unaudited consolidated financial statements as of March 31, 2011 and for the three months then ended to reflect a correction in our accounting policy to properly apply changes in our estimated average playing period for paying players. The impact of this restatement was to increase revenue by $7.5 million and increase the provision for income taxes by $2.5 million for the three months ended March 31, 2011 and decrease deferred revenue by $7.5 million as of March 31, 2011."

It also showed that while 93 per cent of revenue came from just three games in 2008, in 2011 that figure stands at just 63 percent.

It also notes an increase in employee numbers from 2268 to 2543.

Zynga filed for the $1 billion IPO at the beginning of July.

Yesterday Zynga confirmed that Jeremy Verba, its GM, was leaving the company for dating site eHarmony.

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so, even with the revised projections.
how does this total valued worth still amount to a $1 billion IPO?

Posted:5 years ago


Yannick Boucher Project Manager, Crytek

27 1 0.0
Not just that, but Rovio in talks for a 1.2bln valuation at the same time? Anybody doing ANY due diligence anywhere in all this? Or just reading the news, really?

Posted:5 years ago

Lets put it this way, with the current financial lack of confidence in USD, Euro and falling Asian stocks, people want to invest in companies eg. Apple. Tech companies are hot but because of fear, are not doing their due diligence and overheating tech stocks.....zynga, rovio, linkedin....

this in itself is very worrying (and not just mindless doom mongering)

Posted:5 years ago


Matthew Green Producer, Solar Studios Inc

36 0 0.0
vomit. the sleazy game company on fakebook tries to steal money from peple who will be forced to own worthless zynga shares through mutual funds in their 401k they have no control over. Puke Vomit Vomit more jack daniels please to wash this vomit down

Posted:5 years ago


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