Holy f*cking Farmville. Zynga, makers of all those silly games on Facebook that you don’t play, have managed to raise $1 billion by offering up 100 shares at $10 in its public offering. It starts trading today on the Nasdaq, symbol name ZNGA.
To give you some idea of how crazy huge that is, Google’s 2004 initial public offering brought in $1.9 billion. Zynga’s is the biggest offering since Google, says Bloomberg.
Welcome gaming’s new monster company. Let’s see if they can move from browser games and friends list spam into something a bit more substantial. And maybe they can use that cash to buy a better logo.