After months of hype and speculation, Zynga officially went public last Friday with a most curious offering.
Zynga raised $1 billion in one day, for the biggest tech IPO in the US since Google raised $1.9 billion in 2004. Zynga started as a company 4 years ago and now has a valuation of $8.9 billion (for perspective, Electronic Arts is valued at $6.9 billion). That’s the good news.
The bad news is that Zynga priced its IPO at $10/share and ended the day at $9.50/share in what can best be described as a lackluster opening day. Which begs the question -- what happened on the road to IPOville? Read more »