Zynga makes $1 billion with $10 share price
All shares sold at higher end of price range as Zynga stocks starts trading
Zynga has raised $1 billion in its much anticipated IPO today, after offering its 100 million shares at $10 each.
Bloomberg reported the $1 billion (£644 million) figure this morning, a total that comes below Google's $1.9 billion in 2004, but represents a massive IPO for an internet company.
Reports of the $10 price circulated late last night, before confirmation came from the Farmville publisher in the form of a press release. Earlier this week the price range for shares had been set between $8.50 and $10.
"Zynga and its games are becoming consumer brands and there is a lot of recognition for growth potential," analyst Colin Sebastian told Bloomberg late last night.
"My guess is that the shares will be well-received."
Earlier this week analysts seemed cool on the social gaming giant, voicing concerns over Facebook dependence and repeating the success of games like Farmville.
Now what are they going to buy? EA?
Posted:A year ago