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Zynga Inc., which has a Zynga Boston outpost following its August 2010 acquisition of Conduit Labs, has filed with the SEC for an initial public offering, tentatively set at $1 billion.
The S-1 filing with the U.S. Securities and Exchange Commission does not specify how many shares will be sold in the offering, or what they will cost, so the actual value of the IPO will undoubtedly be much greater than $41 billion – some speculation has had it at around $20 billion. Zynga has raised more than $500 million in venture capital.
Based in San Francisco, Zynga makes such popular Facebook and mobile social games as Farmville and Cityville. The company bought Conduit Labs Inc., a Cambridge developer of music-related social games, for undisclosed terms, and renamed it Zynga Boston. Conduit founder Nabeel Hyatt now heads the company’s division here.
In March, Zynga acquired a second Boston-area video game developer shop, Floodgate Entertainment, a Waltham studio with titles like Pirates of the Caribbean and Madden NFL 05 and 06. Terms of that deal were also not released. Zynga Boston added Floodgate founder Paul Neurath as its creative director following the purchase. Before Floodgate, in 1990, Neurath founded Blue Sky Productions, which became LookingGlass in 1992.
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