Zynga will be filing for an IPO with the Securities and Exchange Commission in the next two weeks, according to sources cited by AllThingsD.
While the company’s valuation was previously estimated at around $10 billion, it is very likely that this number could skyrocket once it hits the public markets. The social gaming company is one of several Internet companies expected to go public in the next two years, along with Groupon and Facebook. The success of the LinkedIn IPO is definitely pushing Zynga and other social media startups to cash in while the market is hot.
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Given how the company has quickly morphed into one of the most important forces in online gaming, largely via distribution on the Facebook platform, Zynga stock is going to be a catch. According to the sources, Goldman Sachs will be among the lead bankers in the Zynga offering.
Zynga boasts 250 million monthly active users with their largest game, CityVille, attracting over 90 million monthly users each month. The company reportedly generated about $400 million in profit last year.