Zynga raised $1 billion from its IPO, selling 100 million shares at $10 each. Despite some reluctance from certain analysts and rumors that the IPO could go for as low as $8.50, Zynga recorded a massive success on its first day on the market.
“Zynga and its games are becoming consumer brands and there is a lot of recognition for growth potential,” said analyst Colin Sebastian. “My guess is that the shares will be well-received.”
Source: Bloomberg
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