On the eve of its IPO, social gaming company Zynga has priced its shares at $10, placing them on the high end of its target.
The price (reported by
Reuters) puts a valuation of approximately $7 billion dollars on the FarmVille
maker, giving the company a higher pricetag than other video game giants including Electronic Arts.
The company will raise $1 billion in capital tomorrow based on the 100 million shares being offered. This makes it the largest IPO from a U.S. internet company since Google went public in 2004 and raised $1.7 billion.
Zynga's targeted share prices when it filed with the SEC
last month were between $8.50 and $10.
The company will be listed on NASDAQ Friday under the ticker symbol "ZNGA."