Skip to content

UPDATED 14:12 EST / NOVEMBER 08 2011

NEWS

Zynga Reschedules Initial Public Offering for Shortly After Thanksgiving

Rumors of Zynga’s pre-Thanksgiving IPO plans from not too long ago may have been exaggerated, new news on the subject, according to two people who spoke with Bloomberg, suggests that they’re headed instead for an IPO immediately following Turkey Day.

The opportune filing of the gaming company’s initial public offering started with a $1 billion estimation in July 2011. However, we saw them suffer a 90% loss of revenue across their second quarter, which lead some analysts to wonder how that might affect their IPO and where they intended to go with it. Zynga has done a very good job of diversifying across social media networks and socializing up their apps in order to find a better foundation in the market with Google+ and other venues.

According to Bloomberg, things are looking good for the company even with the revenue decline, “Last week, Zynga updated its prospectus to show that 6.7 million of its users were paying customers in the first nine months of the year, compared with 5.1 million in the year- earlier period. Revenue more than doubled to $828.9 million.”

Although, we’re still waiting on the U.S. Securities and Exchange Commission to finish its review of the company’s financial results.

When they hit the market, Zynga’s shares will trade on the Nasdaq Stock Market under the symbol ZNGA.

Send us a news tip

Send us a News Tip

  • This field is for validation purposes and should be left unchanged.

Sign in or create an account

SIGN IN

OR

New User? SIGN UP

Join us

SIGN UP

Bio

Ethics statement

Extract the signal from the noise

Get SiliconANGLE updates and analysis.

Contact us

Partner with us

Contact us

Guest inquiry