Facebook IPO is good news for Zynga, Pandora, Groupon, too(Read article summary)
The impending Facebook IPO has given a leg-up to social gaming powerhouse Zynga.
Facebook yesterday filed S-1 papers with the US Securities and Exchange Commission, a move that brings the social network one step closer to a long awaited initial public offering (IPO). Some analysts have speculated that Facebook, which currently has a membership of upwards of 800 million, could be valued at close to $100 billion – the largest ever for a tech IPO.
That's good news for Facebook employees, obviously. But it's also good news for Zynga, the social gaming powerhouse, which saw shares soar by as much as 14 percent in trading on Thursday morning. So why Zynga? Well, because Zynga titles such as FarmVille and FrontierVille have been historically very helpful in filling the Facebook coffers.