It was another poor showing for Facebook last week as its stock price hit a new low Friday, dispiriting shareholders already frustrated by lower-than-anticpated profits. Billions in shareholder value was erased as the market value of Mark Zuckerberg’s flagship fell to nearly half of the $104 billion target set in May when the company went public, the Mercury Newsreports. [...]
Social game developer Zynga priced its shares on Thursday evening ahead of a Friday IPO, the largest since Google went public in 2004. The maker of hit Facebook games “CityVille” and “Mafia Wars” even trumped funds raised by the much-hyped Groupon in its Nasdaq debut. Similarly, online gaming company Nexon began trading on the Tokyo Stock [...]
NEW YORK/SAN FRANCISCO (Reuters) – Online games developer Zynga Inc scored badly as it went public on Friday, dashing hopes for the year’s hottest tech IPO, as investors frowned on its over-reliance on Facebook, dimming growth prospects, and outsized control by CEO Mark Pincus. Zynga’s stock fell 5 percent below its $10 initial public offering [...]
Zynga Inc is currently planning to price its initial public offering and have its shares begin trading the week before the U.S. Thanksgiving holiday on Nov. 24, two sources briefed on the offering said on Monday. The sources cautioned that the social gaming company’s plan has not been finalized and could change. They spoke on [...]
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