Inc. Technology » Zynga Delays IPO Because of Unstable Market

Zynga Delays IPO Because of Unstable Market

Posted By Elizabeth Sile On August 30, 2011 @ 10:24 am In Blogging and Social Media | No Comments

Zynga ^[1], the San Francisco-based game developer behind FarmVille and CityVille, will delay its initial public offering.

The company, which hoped to launch an IPO ^[2] in early September, cited the rocky stock market, two sources told The New York Post ^[3]. Zynga will now pursue an IPO in November.

The company set plans in motion in June when it filed papers with the Securities and Exchange Commission and prepared to raise as much as $1 billion.

Zynga is one of the most anticipated IPO offerings and will likely make $1 billion in profits this year. Like Groupon ^[4], it has come under fire for its accounting practices.

Read more at The New York Post ^[3].

Article printed from Inc. Technology: http://technology.inc.com

URL to article: http://technology.inc.com/2011/08/30/zynga-delays-ipo-because-of-unstable-market/

URLs in this post:

[1] Zynga: http://www.zynga.com

[2] hoped to launch an IPO: http://www.google.com/url?sa=t&source=web&cd=1&ved=0CAMQxAEwAA&url=http%3A%2F%2Ftechnology.inc.com%2F2011%2F07%2F06%2Fzynga-maker-of-farmville-files-for-1-billion-ipo%2F&rct=j&q=inc%20technology%20zynga%20ipo&ei=k8xbTtX9E8jFgAfzrt2eDA&usg=AFQjCNGjj8BOoMlerIvHg42rl3IDdo5jtQ&sig2=Iz1oVwBh4nj-yrUb_Dn37Q&cad=rja

[3] The New York Post: http://www.nypost.com/p/news/business/zynga_loses_zing_IddRen9FeEBmOlKS3oVThL

[4] Like Groupon: http://www.google.com/url?sa=t&source=web&cd=1&ved=0CAMQxAEwAA&url=http%3A%2F%2Ftechnology.inc.com%2F2011%2F08%2F09%2Fgroupon-to-drop-controversial-financial-performance-measurement%2F&rct=j&q=inc%20technology%20groupon%20ipo&ei=9cxbTrHuEMjKgQeD1LWODA&usg=AFQjCNEid6Cn0ygbFZthzvVhtAQdJfbwQw&sig2=64uP6mLDfVnLiupjIs6xcQ&cad=rja

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