Farmville creator Zynga files for $1 billion IPO

Zynga, the popular gaming company behind hits such as Farmville ? and the owner of other smash titles such as Words with Friends on Android and iPhone ? has filed for an initial public offering (IPO), The New York Times reported on Friday. It currently has a $20 billion valuation and has plans to offer 10% of its shares; Morgan Stanley will work on the deal. Mark Pincus, the company’s CEO, expects that Zynga can earn $1 billion through the IPO. Unlike some other recent tech IPOs, which have caused many to claim the industry is in the midst of a “tech bubble,” Zynga has had solid earnings through its business model, which typically relies on in-app purchases for in-game

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