Zynga Files S-1, Plans to Go Public and Raise $1 Billion, Overcoming Credits Costs
Zynga, the leading social gaming company on Facebook, has filed to go public today, submitting its S-1 document detailing its business to date and its prospective valuation. The long-speculated numbers are finally in. The company made $597 million in revenues over 2010, with $235 million in revenues for the first quarter of 2011. It expects to raise up to $1 billion in the offering, giving it lots of ammunition for expanding across mobile and social.