Zynga has just filed its S-1 with the SEC, indicating that the company plans to go public. According to the filing, Zynga aims to raise as much as $1 billion, but this could be a place holder amount. Updating
According to the filing Zynga has 60 million daily active users in 138 countries. 38,000 virtual items are created every second and game players spend 2 billion minutes a day on Zynga games. The company had $597 million in revenue in 2010, and posted revenue of $235 million in the first quarter of 2011.
Zynga is profitable, posting $90.6 million in net income in 2010, which is a a 28% net margin. In Q1 of 2011, the social gaming giant reported $11.8 million in profit. Zynga has $995 million in cash on hand.
Founder Mark Pincus writes in the filing of the company’s operational philosophies: Games should be accessible to everyone, anywhere, any time; Games should be social; Games should be free; Games should be data driven and ; Games should do good.
|Location:||San Francisco, California, United States|
Zynga was founded in July 2007 by Mark Pincus and is named for his late American Bulldog, Zinga. Loyal and spirited, Zinga’s name is a nod to a legendary African warrior queen. The early supporting founding team included Eric Schiermeyer, Michael… Learn More