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Report: Zynga Valued Between $7-9B

Report: Zynga Valued Between $7-9B

February 14, 2011 | By Eric Caoili

February 14, 2011 | By Eric Caoili
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Social game developer Zynga is talking with potential backers about raising around $250 million in a new round of funding that could value the CityVille/FarmVille company at between $7 billion and $9 billion, according to reports.

Since its opening in 2007, the San Francisco-headquartered outfit has secured a minumim of $360 million from investors, including $150 million from Japanese telecommunications firm Softbank last year and $180 million from multiple parties in December 2009.

The company is also rumored to have received between $100 million to $200 million from Google as part of a partnership that will see Zynga bolstering the launch of a new social network from the search company to rival Facebook.

Zynga has rapidly expanded its staff and acquired smaller start-ups with that robust funding, and it now has some 1,500 employees and at least 15 studios around the world. Last April, it authorized the issuance of new stock valuing the company at around $4 billion.

This new round of financing could happen in the coming weeks, according to The Wall Street Journal, sourcing "people familiar with the matter." Zynga is reportedly in discussions with at least one major bank, mutual funds, and other interested backers.

The newspaper also says Zynga generated $400 million in profit from $850 million in revenue last year, and that many investors expect the company to go public within the next two years. Zynga representatives have declined to comment on the reports.


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