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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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work