Zynga, the online game company behind Farmville, CityVille and Texas HoldEm Poker, is to file for a public share offering within weeks, according to US media reports Friday.
CNN reported that the San Francisco-based company could file for its initial public offering (IPO) as early as next week, while Bloomberg quoted sources as saying that the company planned to make its move before the end of the month.
The planned IPO comes amid a mini-boom in social networking and internet share launches. On Thursday, daily deal site Groupon said it would raise 750 million dollars in an IPO, while streaming music service Pandora said it would raise 123.2 million dollars.
Professional networking site LinkedIn doubled in value to more than 9 billion dollars when its shares went public two weeks ago.
Zynga might surpass all of those given its 242 million monthly active users and the fact that it already makes close to 20 million dollars profit a month. Analyst Nitsan Hargil told CNN that the four-year-old company is probably worth 14.5 billion dollars.
“This is one of the fastest growing companies in history, in any sector,” Hargil said. “Zynga is not your standard Internet bubble company. Not many four-year-old firms have great revenue, growth, and margins.”
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