Zynga reportedly preparing to file for IPO within weeks

Could come in higher than $10 billion valuation

Zynga reportedly preparing to file for IPO within weeks
The company itself has declined to comment, but a report by All Things D citing 'sources close to the situation' suggests social gaming giant Zynga is preparing to file for an initial public offering (IPO).

The website claims Zynga is looking to take advantage of the current hunger for 'web 2.0 firms' within Wall Street, offering an IPO above its last valuation of $10 billion little over four years since the company was formed.

Opportunity of an offering

Zynga has been on an acquisition spree of late, taking control of 14 companies within the last 12 months – San Francisco-based casual gaming specialist DNA Games the firm's most recent swoop.

Targeting industry luminaries has also been key, with Sony Online Entertainment's John Blakely joining Zynga as VP of development earlier in May.


But it was former COO Jon Schappert's move in April that first alerted attention to the possibility of an IPO, with Wedbush Securities analyst Michael Pachter commenting that such experience would be a necessary if the company was "serious about going public".

Zynga currently employs a 1,500 strong full time workforce across 13 different offices in six different countries.

Any IPO filing could come as early as next week.

[source: All Things D]

With a fine eye for detail, Keith Andrew is fuelled by strong coffee, Kylie Minogue and the shapely curve of a san serif font.