Zynga (NASDAQ: ZNGA) has put aside various controversies and announcing its stock will launch today on the NASDAQ exchange.
100 million shares of Class A common stock are being sold at $10, with an additional 15 million shares being offered on a 30 day retainer to cater for potential extra demand.
CEO Mark Pincus, board member Bing Gordon and Pincus' wife Alison will ring the opening bell remotely from its headquarters in San Francisco at 9am Eastern Time (2pm GMT).
Power up
However, the stock system at Zynga is such that much of the voting power is held by owners of class B and C stock holders.
Class B stock holds seven times the voting power of class A, while class C (owned solely by Pincus) holds 70 times the voting power.
Investors will therefore have very little traction in terms of the company's operation, as Class B and C shares collectively account for 98.2 percent of the voting power.
The San Francisco-based firm currently claims to be the world's largest social game developer with more than 227 million monthly active users, of which 13 million daily active users are on mobile.
Words with Friends, the multiplayer word game which Zynga inherited after purchasing Newtoy for $53.3 million, makes up the bulk of this figure, with 10 million users.
[source: Inside Mobile Apps]
News
When Matt was 7 years old he didn't write to Santa like the other little boys and girls. He wrote to Mario. When the rotund plumber replied, Matt's dedication to a life of gaming was established. Like an otaku David Carradine, he wandered the planet until becoming a writer at Pocket Gamer.
Related Articles
News
Feb 13th, 2024
Mobile revenue exceeds Take-Two’s expectations, making over $2 billion in nine months
Top Stories
News
1 hour, 15 minutes ago
PocketGamer.biz Podcast Week in Views E08 - The UK games industry's skills crisis, Fallout's TV success, and Epic's endless court battles
News
Apr 19th, 2024
Week in Views - The search for skills, billion dollar birthdays and terrific transmedia
News
Apr 19th, 2024
Week in Views - The search for skills, billion dollar birthdays and terrific transmedia
Feature
Apr 19th, 2024
New release roundup: Take That: This is Life, Neopets: Tales of Dacardia, Persona 5: The Phantom X and more
Feature
Apr 19th, 2024
Speaker Spotlight: Xsolla's Chris Meredith on making the most of D2C and today's revenue opportunities
Events
Arts DAO Fest 2.0 | Middle East | Apr 20th |
App Promotion Summit London | Europe | Apr 25th |
Esports Future Summit | Middle East | Apr 27th |
Dubai GameExpo Summit 2024 | Middle East | May 1st |
The MENA Games Industry Awards 2024 | Middle East | May 2nd |
GameDev Atlantic 2024 | May 4th | |
Mobidictum Meetup Berlin May 2024 | Europe | May 7th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Popular Stories
Feature
Apr 15th, 2024
46 top mobile games in soft launch: CSR 3, Plants vs. Zombies 3, LEGO Hill Climb Adventures, Candy Crush Blast, and more
News
Apr 17th, 2024