Where there’s a mention of “tech,” the word “bubble” is never far behind. The wildly popular gaming company Zynga made its New York Stock Exchange debut at $10 per share, but dropped 5% on the first day of trading and didn’t recover, which had many analysts wondering if the company could live up to the hype.
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The year 2011 is safely behind us, and it looks like the future of social media is all downhill from here. It seems the bigger companies are consolidating, either by buying out competitors or enhancing their own services. A new infographic looks at the major events of 2011.
Zynga is all set to go public today in the largest initial public offering in the social games space to date. It’s undoubtedly one of the hottest IPOs of the year and various pundits are weighing in on both sides of the fence about whether or not to buy. Speculation has run rampant for a while about the price, which estimated the company’s IPO at $10B before the secondary market and official pricing targeted $7B instead.
According to news from Wednesday morning, the world’s gaming stock enthusiasts can stop the guesswork — Zynga is going to IPO in mid-December. Zynga plans to release 10% of it’s oustanding stock to the public at a price between $8 and $10, and it would bring Zynga around $900 million to make new FarmVilles, CastleVilles and probably something along the lines of ZyngaVille. For those of you interested in getting into the stock, you may be worried Zynga might do something crazy and try to start a theme park, but then again, maybe they’re smarter than that. Also, their initial stock price has some interesting quirks.
Zynga just announced that they have filed a registration statement with the U.S. Securities and Exchange Commission (SEC) related to their initial public offering. The number of shares to be offered and the price range for the offering have not yet been determined, but the shares will be split between being sold by Zynga and by current Zynga shareholders.
