I guess it’s fashionable to re-file your S-1 These days. Groupon did it this week, and now Zynga has, too. The social gaming company, which filed to go public back in July, is now revealing even more information.
1. An internal valuation that will blow your mind: at the end of the first quarter, Zynga was using an astounding internal valuation of $11.5 bn, according to TechCrunch. Since then expectations have risen, and some feel that an initial public offering within the next few months could be valued at as much as $20 bn.
2. Follow the money: it’s not all fun and games any more. The top three games in Zynga’s portfolio accounted for 93 per cent of its revenue four years ago. By the end of this year’s first quarter that figure was down to 63 per cent, showing better portfolio diversification and less reliance on certain key properties (such as FarmVille).
3. More mouths to feed: Zynga is on a hiring spree, having increased headcount by more than 300 over the past two months, TechCrunch reports. That brings the total number of employees to 2,543.
4. Erroneous accounting: an accounting mistake for first-quarter revenue was corrected, increasing revenues for the period by $7.5 mn. In Q1, Zynga brought in more than $240 mn in revenue.
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