Zynga’s Shares Will Cost Slightly More in Its Secondary Than IPO

Zynga said tonight that shares in its secondary offering will cost $12 apiece. It is unloading nearly 43 million shares, all coming from existing shareholders. During the social games company’s IPO in December, shares sold for $10 each. The stock closed today at $12.24 a share. The company will not receive any proceeds from the sale. The reason for the offering is to increase the number of shares available, and to assist in the “orderly distribution of shares.”


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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald