The creators of free-play Texas Hold’em poker on Facebook, Zynga, are reportedly preparing the documents needed ahead of filing an IPO this autumn. The flotation only hasn’t come earlier as they have to sew all the crops for each version of FarmVille that has been downloaded the world over. That’s no easy task people!
Today is reportedly the day that Mark Pincus will file the documents with the Securities and Exchanges Commission (SEC). Pincus’ company is looking to raise between $1.5billion and $2bn from the IPO and Morgan Stanley will lead the deal. The lofty figures could give way to a valuation of around £15bn to $20bn. This is all before Facebook decides to take the Hollywood-styled IPO plunge early next year.
If you want proof that the bubble can spectacularly burst then look no further than embattled MySpace. CityAM is reporting that a source familiar with the matter has revealed that News Corp is opening up the auction process that will mean the site is no longer a part of their portfolio.
Once upon a time everyone had a MySpace profile. You could hook up with girls whilst listening to your favorite bands and commenting on each other’s profiles. Don’t say it too loudly in front of Facebook but you could even customize your profile to make it feel more personalized. No blue and white color scheme in sight!
The two front-runners for the site are online ad company Specific Media and private equity group Golden Gate Capital. News Corp is looking to fetch a figure between $30m and $100m for the site.