Excitement from the LinkedIn IPO hasn’t even died down yet, and already rumours are swirling about a float by social gaming company Zynga. Tech blog AllThingsD reports that the company could file with the SEC as early as this week – and that it could dwarf the market cap attained by the B2B-focused social networking giant.
So it looks like another social media IPO is just around the corner. Here are the top five things you need to know about it:
1.Big money: Zynga was valued at $10 bn in its last round of funding, and AllThingsD says a higher valuation is likely for an IPO. Keep in mind that LinkedIn’s market cap is $9 bn (as of yesterday), and it went public at half that.
2. Familiar faces: Goldman Sachs is said to be among the lead bankers.
3. Pay to play: Zynga boasts 250 mn active monthly users, with its Facebook game CityVille having up to 90 mn. But it’s not just eyeballs: the company’s 2010 revenues of $850 mn were good for $400 mn in profits.
4. Hiring aggressively: last year, Zynga added more than 800 employees, bringing it to more than 1,500 full-timers in 13 offices (across six countries).
5. Lofty dreams: Zynga’s founder and CEO Mark Pincus, according to AllThingsD, has ‘Amazon-sized ambitions for Zynga’.
Of course, Zynga is staying silent on its IPO plans.