As MMW reported Wednesday, prominent social gaming leader Zynga appeared poised to venture into the alluring waters of Wall Street with an initial public offering.
Today, we can confirm these suspicions.
On Friday morning, Zynga filed IPO documents with the US Securities and Exchange Commission. The company has intentions of raise $1 billion in an initial public offering.
Morgan Stanley, Goldman Sachs, J.P. Morgan Chase, Bank of America and Barclays Capital are all involved, according to published reports.
Information contained within the filing suggests that the company going to establish a three-class share structure, which will enable current shareholders to retain control of the company despite going public.
Zynga, which is headquartered in San Francisco, is the maker of such hit social games as FarmVille and Zynga Poker. Zynga now enjoys better than 62 million daily active users.
The latest IPO headline suggests the new dot.com era is continuing to roll on. Some Wall Street and tech analysts believe companies like Zynga, LinkedIn, Pandora, and others may be rising to premature investor prominence, leading to another burst bubble in the future.
Just says after Pandora priced “high above” its intended initial stock price, for example, the price briefly spiked before tumbling back down to earth and beneath that initial level in the trading days that have since followed.