Saturday, July 2, 2011

Social Gaming Giant Zygna Going Public

aaaaaThe worlds favorite social games builder (of Farmville and Mafia Wars fame), Zynga, has recently filed with the Securities and Exchange Commission for an IPO. To view the S-1 form go here. According to the application, Zynga plans to raise upto $1 billion in its IPO, a figure many industry watchers are saying is exaggerated.

aaaaaThe stats Zynga posts are admirable. They say they have 60 million daily active users in 138 countries. 38,000 virtual items are created every second and game players spend 2 billion minutes a day on their games.

aaaaaThe company had $597 million in revenue in 2010, and posted revenues of $235 million in the first quarter of 2011. They also show profits of $90.6 million net last year and $11.8 in the first quarter of 2011.

aaaaaIn the filing submitted, founder Mark Pincus outlines the company philosophies; Games should be free, data driven, social, accessible and do good(?). Revenues grew 392% last year to $600 million. Impressive undoubtedly.

aaaaaMain investors are Zynga include Reid Hoffman, DST, Google, Tiger Global, Kevin Rose, Kleiner Perkins, Union Square Ventures, Andreessen Horowitz, PayPal guru Peter Thiel, Foundry Group and IVP.

aaaaaThe company was named after the founders’ late American bulldog, Zinga.

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