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Zynga Declines in Trading Debut After $1B IPO

Zynga Inc., the largest maker of games for Facebook, declined in its first day of trading after raising $1 billion in an initial public offering that gave it a greater valuation than rival Electronic Arts Inc. The shares, listed on the Nasdaq Stock Market under the symbol ZNGA, fell 5 percent to $9.50. The developer of games such as “CityVille,” “FarmVille” and “Mafia Wars” sold 100 million shares for $10 each, the top end of a proposed range.

 

FarmVille’s Parent Company Valued at $1 Billion?

While some of us might be willing to pay to make Facebook games like FarmVille and Mafia Wars go away, it appears that Wall Street has other ideas.

 

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