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Zynga Shares Drop 5% After IPOPOSTED December 17, 2011 SAN FRANCISCO - Zynga, maker of popular games like CityVille and FarmVille on Facebook, went public Friday selling a whopping 100 million shares at $10 each for a total of one billion dollars. Unfortunately for Zynga shareholders, the company's stock gained little traction and ended the day down 50 cents to close at $9.50. Zynga itself did not receive any proceeds from the sale of shares by the selling stockholders. The company reported revenues of $828.8 million through the first nine months of 2011. The company reported a profit of $27.89 million in 2010. Morgan Stanley & Co. LLC and Goldman, Sachs & Co. were the joint bookrunning managers and representatives of the underwriters for the offering. BofA Merrill Lynch, Barclays Capital Inc. and J.P. Morgan Securities LLC are also joint bookrunning managers, and Allen & Company LLC is a senior co-manager for the offering. Zynga is the world's largest social game developer with more than 227 million monthly active users playing its games, which include CityVille, FarmVille, Words With Friends, CastleVille, Zynga Poker, Empires & Allies, Indiana Jones Adventure World, The Pioneer Trail, Mafia Wars and Café World. Zynga's games are available on a number of global platforms, including Facebook, Google+, Tencent, Apple iOS and Google Android. |
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