The deadline for Zynga’s first public opening is fast approaching and the online gaming company that has created both Mafia Wars and Farmville is ready to get the IPO roadshow on the road starting this coming Monday, according to a source that was close to the company. The San Francisco based gaming company known for its many Facebook games is expected to file a new prospectus by the close of the week with plans to officially go public by the middle of December.
Zynga is known as easily the largest social gaming company on the internet, with over 227 million regular monthly users. In fact, over the first nine months of 2011 the company had already made an astounding $828.9 million in revenues which is almost double the amount it made during the same period in 2010.
In terms of profit, the company is estimated to have pocketed about $121 million since the beginning of 2010, making it a very desirable IPO. Many internet companies are waiting to see how the Zynga offering goes before dipping their own toes into the water due to the lacklustre opening of Groupon, which has discouraged other internet companies from going public.
A great deal of internet companies have seen strong debuts followed by heavy losses making them less desirable stock options. It is likely that Facebook will also be watching the IPO offering of Zynga as the company is getting ready for its own public IPO to be announced sometime next year.