Sections

New Zynga CFO fuels flotation speculation

Allen and Co man signs up to $5 billion-valued social game dev

FarmVille creator Zynga has appointed a new chief financial officer, prompting rumour that the fast-expanding company might soon announce an IPO.

While VentureBeat raises the spectre of public floatation, it also claims that an unnamed source has indicated this is unlikely.

Zynga's recent string of acquisitions, partnerships and investment (totalling some $520 million) may well mean an initial public offering is not necessary for the time being. A private valuation puts the social game developer at $4 to 5 billion.

The new CFO is Dave Wehner, former managing director of New York investment bank Allen & Co - which was one of the underwriters for Google's IPO.

However, Wehner himself specialised in acquisitions, which may mean Zynga is seeking further expansion rather than public capital.

Wehner leapfrogs current CFO Mark Vranesh, who has been bumped to chief accounting officer.

Related stories

Pincus: For new mobile devs, it's organic growth or bust

At Slush, Zynga founder Mark Pincus advised mobile startups to set a "high bar" for organic growth before investing in advertising and UA

By Matthew Handrahan

Zynga looks to solidify newfound profitability

Developer building a portfolio of card games to keep players engaged for “a very long period of time"

By Haydn Taylor

Latest comments

Sign in to contribute

Need an account? Register now.