Zynga near investment valuing them at near $10 billion
Zynga, the company responsible for such facebook plagues as Farmville, are in discussion for an investment that would value them at close to $10 billion. The company is in talks with T. Rowe Price and Fidelity Investments, among other investors, for finances worth near $500 million. Zynga is also contemplating filing for an initial public offering as soon as the first quarter of 2012.
The news comes from sources who are involved with the discussions, but who can’t reveal their identities on account of the confidential nature of the discussions.
Although the Zynga financing has not yet closed and may still fall apart, there has been significant investor interest, the sources have said.
Zynga is also preparing to start a stand-alone gaming platform that will that will run separately from Facebook, according to three people briefed on the matter. The project, known as Zynga Live, will also serve as a gaming social network and is expected to make its debut in the middle of this year.
“We’re always looking for ways to improve the user experience, but we don’t ever comment on what we may or may not be working on,” Zynga have stated. “We’re focused on building a new form of entertainment that’s connecting the world through games.”
Like it or hate it, Zynga seems here to stay.
Thanks to the NY Times for the info.