Zynga Document Discloses Major Round of Financing in the Works
More evidence has surfaced that Zynga is close to completing a gigantic round of funding just shy of $500 million.
In February, Boomtown’s Kara Swisher reported that Zynga was raising $500 million, which would value the company at $10 billion.
Sources said the round included big institutional investors, such as Morgan Stanley, T. Rowe Price, Fidelity Investments and a smaller amount from existing venture investor Kleiner Perkins.
Today, Inside Social Games reports that the San Francisco-based games company, known for social games like Mafia Wars and Zynga Poker, filed a document with the State of California on April 14, showing that it has sold $490 million in Series C preferred Stock.
Occasionally, these documents are not a fair representation of the situation because they show intent rather than the completion of the round. They can also be out of date. A Zynga spokeswoman declined to comment.