Zynga is delaying its IPO — originally set for next month — until November, according to a report.
The social gaming company is spooked by the “rocky stock markets,” according to the report in The New York Post, which cites two sources with knowledge of Zynga’s plans.
Mashable could not reach reps from Zynga for comment.
In late June, Zynga announced plans to go public. The company, which is behind FarmVille, CityVille and Mafia Wars, among other titles, hopes to raise $1.5 billion to $2 billion in its IPO. But since the debt ceiling debate this summer, tech stocks have been hit hard.
Zynga’s is one of several social media IPOs planned over the next few months. Another high-profile social media IPO, Groupon’s, has also reportedly been delayed, but because of SEC accounting concerns, rather than stock market conditions.
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Posted on Mon, 29 Aug 2011 15:45:32 +0000 at http://feeds.mashable.com/~r/Mashable/~3/zYRud6YQCOo/
Comments: http://mashable.com/2011/08/29/zynga-ipo-delay/#comments
The social gaming company is spooked by the “rocky stock markets,” according to the report in The New York Post, which cites two sources with knowledge of Zynga’s plans.
Mashable could not reach reps from Zynga for comment.
In late June, Zynga announced plans to go public. The company, which is behind FarmVille, CityVille and Mafia Wars, among other titles, hopes to raise $1.5 billion to $2 billion in its IPO. But since the debt ceiling debate this summer, tech stocks have been hit hard.
Zynga’s is one of several social media IPOs planned over the next few months. Another high-profile social media IPO, Groupon’s, has also reportedly been delayed, but because of SEC accounting concerns, rather than stock market conditions.
More About: facebook, groupon, IPOs, ZyngaFor more Business & Marketing coverage:Follow Mashable Business & Marketing on TwitterBecome a Fan on FacebookSubscribe to the Business & Marketing channelDownload our free apps for Android, Mac, iPhone and iPad
Posted on Mon, 29 Aug 2011 15:45:32 +0000 at http://feeds.mashable.com/~r/Mashable/~3/zYRud6YQCOo/
Comments: http://mashable.com/2011/08/29/zynga-ipo-delay/#comments
