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Zynga to kick off IPO roadshow next week
NEW YORK (Reuters) Zynga Inc embarks on a road show to promote its initial public offering next Monday, two sources familiar with the matter said, the latest dotcom name to try and whet investors appetites.
Zynga General Manager Lo Toney introduces Zynga canada goose coats on sale Casino during the Zynga Unleashed event at the company’s headquarters in San Francisco, California Canada Goose Coats On Sale October 11, 2011. REUTERS/Stephen Lam
The social gaming canada goose black friday sale leader behind follows canada goose store in the footsteps of recent tech companies to test public markets, including cheap canada goose uk Groupon Canada Goose online Inc canada goose outlet and Angie List. It could be the biggest Internet debut ahead of Facebook which a source said is planning to go public in 2012.
Chief Executive Officer Mark Pincus will lead presentations to investors, along with Chief Operating Canada Goose Online Officer John Schappert and Chief Financial Officer David Wehner, the two people told Reuters.
Zynga spokeswoman https://www.jacketstock.com Cynthia Saw declined to comment.
Four year old Zynga, which filed for an IPO of up to $1 billion on July canadian goose jacket 1, is one canada goose coats of the most hotly anticipated Canada Goose Outlet IPOs in technology. It rose to prominence on the cheap Canada Goose strength of viral games such as and CityVille.
The plan is Canada Goose sale to price its shares on Nasdaq before Canada Goose Parka the New Year under the symbol one of canada goose uk black friday these people said. Sterne Agee canada goose analyst Arvind Bhatia said attention will uk canada goose center on the company valuation, estimated at around $14 billion.
That would price Zynga higher than videogame heavyweight Activision Blizzard $13.85 billion market capitalization, or Electronic Arts $7.2 billion.
Bhatia said the company will need to outline a clear growth strategy during its roadshow to justify that canada goose uk outlet rich canada goose uk shop price tag.
Some analysts have remarked on canada goose factory sale Zynga heavy reliance on Facebook as the main platform for its games. buy canada goose jacket cheap Facebook takes a 30 percent cut of any revenue earned on the world largest social network.
Others point to a track record of profitability.
to some of the recent IPOs, I would think Zynga will do better, Bhatia said. it canada goose clearance will boil Canada Goose Jackets down to what the valuation is. The company might be doing well but if the stock price becomes overpriced, that the bigger issue.
TOO RICH? In its latest filing with the Securities and Exchange Commission on November 17, the company said a third party performed an analysis that valued the company at $14.05 billion. Bhatia estimated uk canada goose outlet that marked a tripling in under nine months.
Zynga named after Pincus late American Bulldog dominates buy canada goose jacket social canada goose clearance sale gaming but has to contend with a growing pool of deep pocketed rivals, including Walt Disney Co.
With more than 260 million monthly active users on Facebook, it has proven adept at herding current players to its free games. Zynga has said its unique paying players for the 12 months ended September 30 stood at approximately 7.7 million.