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December 16, 2011 09:07 pm GMT
Zynga has finally hit the public markets today, marking the largest technology IPO since Google. Yesterday, the social gaming giant priced its IPO at $10 a share, which was on the higher end of the $8.50 to $10 price range the company indicated a few weeks ago. At $10 per share Zynga would be valued at around $7 billion. Zynga offered 100,000,000 shares of Class A common stock in the offering, raising $1 billion. Zynga, which began trading on the Nasdaq under the symbol 'ZNGA, saw shares pop 10 percent on its opening trade of $11, giving the company a $7.7 billion valuation.This morning founder and CEO Mark Pincus along with the company management team, board member and Kleiner Perkins partner Bing Gordon, and Pincus' wife Alison Pincus, rang the opening bell remotely from Zynga headquarters in San Francisco. In early trading, Zynga shares dropped below the offer price of $10 per share.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/boA0Yk0LrCY/
Zynga Shares Pop 10 Percent To $11 On First Trade, Valued At $7.7 Billion
Zynga has finally hit the public markets today, marking the largest technology IPO since Google. Yesterday, the social gaming giant priced its IPO at $10 a share, which was on the higher end of the $8.50 to $10 price range the company indicated a few weeks ago. At $10 per share Zynga would be valued at around $7 billion. Zynga offered 100,000,000 shares of Class A common stock in the offering, raising $1 billion. Zynga, which began trading on the Nasdaq under the symbol 'ZNGA, saw shares pop 10 percent on its opening trade of $11, giving the company a $7.7 billion valuation.This morning founder and CEO Mark Pincus along with the company management team, board member and Kleiner Perkins partner Bing Gordon, and Pincus' wife Alison Pincus, rang the opening bell remotely from Zynga headquarters in San Francisco. In early trading, Zynga shares dropped below the offer price of $10 per share. Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/boA0Yk0LrCY/
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