Game-Maker Zynga Unveils IPO Plans As Investors Grow Wary Of Tech

The maker of popular Facebook games including FarmVille and Mafia Wars says this morning in an SEC filing that it hopes to end up with nearly $890M from a public offering of 100M shares at an expected price of about $9.25 a share. The stock will trade at NASDAQ under the symbol ZNGA. The cash will be used for “general corporate purposes” which could include acquisitions. The company says it also plans to contribute a some of the net proceeds to charitable causes through its philanthropic initiative, Zynga.org. Today’s announcement follows its disclosure this past summer that it planned to go public — seizing on Wall Street’s infatuation with tech companies. Investors have become a little more skeptical about the category, though: For example, Pandora Media is down about 40% since it went public in June. LinkedIn is down 28% since May. And Groupon lost 27% of its market value after it hit the market early last month. Zynga investors also will have no power over the company. Read More »

Comments (3)

UPDATE: ‘Puss In Boots’ Will Top $33.6M This Weekend, Jeff Katzenberg Predicts

UPDATE, 2:25 PM: DreamWorks Animation shares jumped all over the place in after-hours trading when the company reported its earnings — but settled at -2% as CEO Jeff Katzenberg discussed his expectations and plans. He Read More »

Comments (4)

Jeffrey Katzenberg Blames Hollywood “Greed” For 3D Woes

DreamWorks Animation CEO Jeffrey Katzenberg is the leading cheerleader for 3D — and lobbied theaters hard to raise ticket prices for 3D films. So it’s funny to hear him say that “the bloom is off the rose” for the technology … Read More »

Comments 46

EXCLUSIVE DEADLINE LIST: Media Moguls With Pay Compensation NOT Out-Of-Whack

EXCLUSIVE: Media Moguls With Out-Of-Whack Pay Compensation

My previous post showed that a lot of media company bigwigs have pay that’s out of whack with the other 4 top executives … Read More »

Comments (14)