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Zynga IPO To Begin Trading On December 16
Zynga IPO To Begin Trading On December 16
December 2, 2011 | By Mike Rose

December 2, 2011 | By Mike Rose
More: Console/PC, Social/Online, Business/Marketing

Social games giant Zynga has filed new papers with the Securities and Exchange Commission, detailing plans about its upcoming initial public offering that it will price later this month.

According to the new filing, and as reported by business website VentureBeat, Zynga is looking to raise between $850 million and $1 billion as part of the IPO, with a $5.9 billion to $6.99 billion valuation.

With the IPO set to be priced on December 15, and trading due to start the following day, the company has set the price range at $8.50 to $10 per share, with the plan to issue 100 million shares in total.

When Zynga originally filed an S-1 with the SEC indicating its desire to issue an initial public stock offering back in July, it was estimated that $1.5 to $2 billion would be earned in the offering, while the company was being valued at around $20 billion.

However, since that initial filing, the company has seen its profits and its user base decline, and it delayed the IPO due to what was described as "rocky stock markets."

The new filing sees the company issuing 14.3 percent of its shares, with the total shares left after the offering set to be 699.3 million altogether. The company will trade its stock under the symbol ZNGA on the Nasdaq stock market.

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E McNeill
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6-7 billion is still an impressively high number. I'll be interested to see the effect of going public on employee retention.

Duong Nguyen
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There was a NY Times article about this just a few days ago? It looks like Zynga will have a massive brain drain once the go public and people cash out. Maybe that is why they try to rescind previously offered employee shares earlier? There was another article on just that before the Times article.. Interesting..

Kris Graft
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This is actually based off of an SEC doc just filed today. Gamasutra will be looking at the possibility of brain drain in a future article.

Luis Blondet
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Three words come to mind: Pump And Dump!