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December 1, 2011 07:00 am GMT
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/0qymTuhXg08/
Source: Zynga Lowering IPO Valuation To $10 Billion Range, Due To Larger Economic Fears
Social game developer Zynga will start talking to potential public investors this Monday ahead of a mid-December IPO, according to reports earlier this week. The question is: how much will it be selling its stock for? That information has been expected to surface in an amended filing on Monday, but Reuters has some early details, that we've confirmed with a source close to the company.Zynga is seeking to raise around $900 million by selling 10% of its stock at a range between $8 and $10 per share, for a valuation of around $10 billion, according to the report. Speculation had previously been that it would go for between $15 billion and $20 billion, and a third-party valuation analysis that Zynga had provided in a recent filing amendment indicated it was worth $14.05 billion.Our source says Reuter's range is correct, and adds that the decrease is due to Zynga's concerns over larger economic issues, like any fallout out from Europe's financial crisis, and the poor reception that other tech IPOs have had recently. Deals site group Groupon went public at $17.8 billion, but has dropped to towards $10 billion recently (although it's climbing back up in the last couple days).Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/0qymTuhXg08/
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