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Social gaming titan and Farmville maker Zynga priced its initial public offering at $10 per share, giving the company – which has a Zynga Boston location – a $1 billion IPO. That is the largest Internet IPO in the U.S. since Google Inc. went public in a $1.67 billion IPO in 2004.
Zynga, based in San Francisco, has a local presence through its August 2010 acquisition of Conduit Labs Inc., a Cambridge developer of music-related social games, for undisclosed terms. Conduit CEO and founder Nabeel Hyatt was named head of the renamed Zynga Boston at the time. Conduit was known for such games as as Music Pets, Super Dance and Loudcrowd.
Since then, Zynga has expanded its local presence, with its March purchase of Floodgate Entertainment, a Waltham video game developer with titles like Pirates of the Caribbean and Madden NFL 05 and 06. Terms of that acquistion were also not disclosed. Floodgate founder Paul Neurath was named creative director of Zynga Boston as part of the deal.
According to a report by the Silicon Valley/San Jose Business Journal, Zynga’s launch price of $10 per share values the company at about $9 billion.
Mass High Tech attempted to reach local Zynga executives this morning but has not yet received a response.
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