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Zynga Poised for IPO

Zynga Poised for IPO

Social games developer Zynga is expected to file for an initial public offering (IPO) within days, with the deal potentially valuing the company at as much as $20 billion. Zynga is the company behind popular Facebook games such as CityVille, FarmVille, and Mafia Wars, and its Zynga Poker game (which has about 30 million active users each month).

Zynga took in about $90 million in profits last year on revenue of $600 million, with its revenue for 2011 expected to swell to about $1.5 billion. Zynga makes the majority of its money (about 80%) from offering players the chance to buy virtual currency used in its games for various boosts and add-ons, with the remaining 20% of revenues coming from advertising.

The company (which was founded in 2007 and has more than 2,000 employees) has about 250 million active users for all of its games each month. Zynga plans to use proceeds from its IPO to fuel continued investment in its existing games and to roll out new ones as well.

Many online casino and poker analysts are keeping a close eye on Zynga, as while it just offers the chance to compete for play money it could be a serious competitor to existing online poker sites if the laws in the US change to allow Zynga to offer real money games. 

Zynga seems content to continue to operate Zynga Poker like its other games -- making money by letting players purchase more play chips -- but it did dabble with its first live poker event in 2011, running a $100,000 guaranteed tournament at the Palms Casino in Las Vegas that gave some of its players a taste of real money poker at US casinos for the first time.

07-Jul-2011, 09:49

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