Investors Underwhelmed by Zynga IPO

Should tech startups be worried?

It looks like investors weren't scrambling to buy a piece of FarmVille.

Social game maker Zynga made its debut on the Nasdaq Friday, and after initially rising from $10 per share to $11, it ended the day at $9.50. That makes it one of the five of this year's 22 Internet IPOs that ended their first day below their IPO price, according to Dealogic.

In some ways, that performance is surprising. Unlike many of the tech companies that went public earlier this year, such as Groupon, Zynga is profitable, and on Thursday Dun & Bradstreet tech specialist Lee Simmons told Adweek that the firm had demonstrated free social games are "a sustainable business model."

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