Zynga IPO Aims To Raise $1 Billion

Social games maker Zynga has filed for an initial public offering with the Securities and Exchange Commission, hoping to raise $1 billion.

San Francisco based Zynga is the games studio behind popular Facebook games like FarmVille, CityVille and Zynga Poker.

Zynga’s IPO is among the most highly awaited by the market after Facebook and Twitter. The company follows LinkedIn, Pandora, Demand Media and Yandex in offering its stock for trading on the New York Stock Exchange.

The company’s filing with the SEC did not mention the sale price, the date from which it plans to offer its shares for trading or the number of shares it plans to offer in the IPO. The Facebook game maker plans to raise $1 billion from the IPO.

"By offering our shares to the public we hope to enable Zynga to invest more in play than any company in history," Zynga CEO Mark Pincus wrote a statement.

"We will continue to make big investments in servers, data centers and other infrastructure so players' farms, cities, islands, airplanes, triple words and empires can be available on all their devices in an instant."

Zynga owes a bulk of its fortune to social networking giant Facebook, which is valued at more than $60 billion, and plans to launch an IPO next year.