After delaying its IPO two months ago, social game developer Zynga is finally planning to go public next month, according to The Wall Street Journal—just as soon as Groupon completes its own highly anticipated public offering.
Sources told the WSJ that Zynga still hasn’t made a final decision about the date, and that it will likely depend on investors’ reception to Groupon and market conditions. Zynga filed for a $1 billion IPO in July and was expected to go public sometime in September, but at the end of August, the company decided to delay its IPO due to the rocky conditions on Wall Street.
Like Groupon, Zynga has also gotten some heat from the SEC over its “creative” accounting metrics—including a “bookings” metric that accounted for the sale of virtual goods—and was forced to amend some of its filings to restate those numbers.
If all goes smoothly with the stock market and Groupon's public offering, we could be looking at a Zynga IPO in mid- to late November.