Zynga to Lower Prospective Valuation to $10B For IPO Amid Economic Uncertainty
Zynga is eyeing a lower valuation of around $10 billion for a public offering expected in about two weeks. Reuters first reported the news, and we confirmed the details they reported with a source knowledgeable about the company’s plans. Zynga declined to comment.
Zynga expects to raise about $900 million with a price of roughly $8 to 10 a share. A $10 billion valuation would be lower than the company’s most recent valuation of $14.05 billion as estimated by a third-party firm Zynga hired in August, according to their most recent SEC filing.
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