Wednesday, March 14, 2012

Zynga In $400M Secondary Offering

Some of the institutional investors in Zynga are looking to cash out of the social gaming firm, via a secondary offering from the company, according to an S-1 filed by Zynga today. Zynga said it has filed for a $400M, secondary offering, where all of the proceeds will go to existing investors of the firm. The offering is being underwritten by Morgan Stanley, Goldman Sachs & Co., BofA Merrill Lynch, Barclays Capital, J.P. Morgan, and Allen & Company. Shareholders in the company include Kleiner Perkins Caufield & Byers, IVP, Union Square Ventures, Foundry Ventures, and Avalon Ventures.