Zynga to Close $500 Million Funding at $10 Billion Valuation
It seems that Zynga is now valued at a whopping $10 billion while in the process of securing $500 million in funding. AllThingsD reports that the maker of Cityville is involved in securing funding from Morgan Stanley, Fidelity Investments, T. Rowe Price, and previous investor Kleiner Perkins.
According to Business Insider, this valuation means Zynga is worth more than twice what Twitter is and, more importantly, worth $4 billion more than gaming giant Electronic Arts. Zynga did not respond to requests for comment, but “unnamed sources” have also been cited by NYT confirming the $500 million and $10 billion valuation. These same sources also say that Zynga will be preparing for an IPO next year.
Zynga has been wildly successful in the social gaming sphere. They boast over 215 million active users playing their games each month. Last month, CityVille reached over 100 million active users, beating FarmVille which hovered around 57 million users at the time. Zynga has also joined forces with Google, helped launch the $250 Million sFund with Kleiner Perkins, collaborated on beats with Dr. Dre, and acquired the Flock social web browser.
via CNet
Category: News | Tags: Electronic Arts, fidelity investments, Kleiner Perkins, t. rowe price, twitter, zynga
About the Author Rahsheen has been a certified geek since before it was the thing to do. He started programming and tinkering in the 4th grade. Now, Rahsheen mostly writes on various sites about technology trends in social media and mobile. . He is also a musician, singer, rapper, writer, and producer. @rahsheen - +Rahsheen Porter - coachrah.com
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