Zynga, maker of Farmville, goes public with billion-dollar IPO (video)

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Zynga offers $1 Billion IPO due to booming popularity of ‘Farmville’

Zynga has filed for an initial public offering (IPO).  It currently has a $20 billion valuation and has plans to offer 10% of its shares.  Morgan Stanley is in charge of the offering.

Zynga is the popular gaming company behind hits such as Farmville, and the owner of other smash titles such as Words with Friends on Android and iPhone.

Mark Pincus, the company’s CEO, expects that Zynga can earn $1 billion through the IPO. Unlike some other recent tech IPOs, which have caused many to claim the industry is in the midst of a “tech bubble,” Zynga has had solid earnings through its business model, which typically relies on in-app purchases for in-game currency.

The firm reportedly recorded a profit of $90.6 million in 2011 on revenues of nearly $600 million.  Zynga currently remains the top Facebook gaming app on the social networking site, boasting 272.5 million active users across its biggest titles such as Cityville and Farmville.

 

Check out this hilarious parody of Facebook and Zynga’s  Farmville….

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For the last 20 years, David Novak has appeared in newspapers, magazines, radio, and TV around the world, reviewing the latest in consumer technology.His byline has appeared in Popular Science, PC Magazine, USA Today, The Wall Street Journal, Electronic House Magazine, GQ, Men’s Journal, National Geographic, Newsweek, Popular Mechanics, Forbes Technology, Readers Digest, Cosmopolitan Magazine, Glamour Magazine, T3 Technology Magazine, Stuff Magazine, Maxim Magazine, Wired Magazine, Laptop Magazine, Indianapolis Monthly, Indiana Business Journal, Better Homes and Garden, CNET, Engadget, InfoWorld, Information Week, Yahoo Technology and Mobile Magazine. He has also made radio appearances on the The Mark Levin Radio Show, The Laura Ingraham Talk Show, Bob & Tom Show, and the Paul Harvey RadioShow. He’s also made TV appearances on The Today Show and The CBS Morning Show.His nationally syndicated newspaper column called the GadgetGUY, appears in over 100 newspapers around the world each week, where Novak enjoys over 3 million in readership. David is also a contributing writer fro Men’s Journal, GQ, Popular Mechanics, T3 Magazine and Electronic House here in the U.S.