Zynga, the name behind several famous games on social networking websites, has submitted a new filing to reveal its latest internal evaluation.
According to tech website Digital Trends, a new filing at the Securities and Exchange Commission (SEC) of the United States, has valued Zynga at $11.15 billion in the month of March.
“In late March 2011, [Zynga’s] board of directors determined that the fair value of our common stock and Series Z preferred stock remained $13.96 per share,” the filing with the SEC reads. The numbers show that when the worth of outstanding shares are taken into account, the company actually has a value of $11.15 billion.
Interestingly, the valuation is dated five months back, while market experts believe that the level of popularity and user base of Zynga has grown tremendously in the last few months, therefore the company’s worth at the time could even be somewhere around $20 billion.
The report has also shown that Zynga does not solely depend upon its famous game Farmville for all its revenue. The breakdown has shown that while 93 per cent of its total revenue came from its top three games four years ago, the company has become less dependent on them, as in 2011 just 63 per cent of its total revenue came from the current top three games.