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Zynga To Delay IPO Due To "Market Conditions"
Nobody could have seen this coming. From Reuters: "Zynga, the social games maker may delay its plans for an initial public offering until November because of poor market conditions, the New York Post newspaper reported late on Sunday. The New York Post, citing two sources with knowledge of Zynga's plans, said the company hoped its shares would be listed as soon as possible but is "no longer in a rush because of the rocky stock markets." Another source close to the company said its public debut could be delayed until November but the company will know more after Labor Day, the newspaper said." Maybe Zynga can just find some of those sophisticated buyers of Sino Forest stock who were betting on a dead cat bounce, or all of those distressed funds who were bidding up the bonds at 50. If that fail, it can just approach the Sovereign Wealth Funds which bailed out the biggest (pro forma) Greek and American bank for a few days.
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GAME OVER!
You can unlock this cool golden "GAME OVER" sign for $0.99!
This proves Zynga is not a total ponzi, but instead a business with a product, however shitty and dumb and hollow that product is!
If you want a real ponzi, look to GRPN, bitchez!
http://azizonomics.com/2011/08/27/groupon-unsustainable-parasite/
Tyler, it is not like the Qatar Royalty has any choice in this matter -- they must a gotten a "friendly" call to invest. Libya is still fresh in their minds... last thing they want is an outbreak of "democracy".
Why do they think November will be any better?
Zillow up 4 days in a row, market isn't that bad.....
Maybe they will come to the market in another month or so when this rally is about to run out of steam.
By that time, LNKD, Z, P, etc. will be up 15 out of the last 20 trading days.
Zynga wanted to float for something like $1 billion. They'll need another QE to be well underway before it will happen.
Zynga, unlike Groupon, has over a billion in cash and that pile is growing. They don't need to go...unlike Groupon.
Another one that wanted $1 billion. But I can't see how Groupon could get it. Even with the same kind of hype given previously only to Chinese solars.
and now all those glossies in vanity fair will be for naught.
and they had the profile perfectly timed with the IPO...it must be sad to watch an empire's center disintegrate from right there within -- it's so much more rewarding and hilarioius from this perspective.
THis market loves frivolous, short-horizon business models like vaporware. This market doesn't like solid businesses that make things. Goes with the 'something for nothing' Fed.
It's all about levitating the market and putting free money in people's pocket -- you can climb aboard the gravy train or watch in frustration from the sidelines. Worrying about fundamentals is a dead end!
In the absence of real economy, Trickle down economics 101.
For as long as it lasts. After which.......swoosh
As an American, I'm more than a little concerned about the lack of economic fundamentals and the road to hell we're on
Hard to believe that during GD2 buying virtual cows with real money, doesn't have the 2/20 crowd linning up.
Seems like it would be right up their alley.
Oh and Groupon is a complete ponzi. Who would have suspected?
I agree. Anyone who invests in Zynga or Groupon or anything else of that nature is a complete idiot who would be better served taking that money and betting it all on the St Louis Rams to win the Super Bowl.
christ have mercy
may i suggest calpers or the norway teacher's pension fund?
Let's not overlook the "retail investor," and that asset-bloated exemplar of the groupthinking ( and Facebook-stakeholding ), closeted index fund: Fidelity Contrafund.
There is no joy in Farmville.
this stuff is one bottomless pit of bathos -- i suspected that 'the market' would spike on the 'positive' news that new york wasn't decimated in deluge...i was just too embarrased to list that as part of my analysis. shame is a rare thing these days; especially on wall street.
next week will be the 200+ years of no thermonuclear annihilation (and counting!!!) rally
Can somebody PLEASE water my peas?!?!??
I haven't played a video game since SpaceInvaders, so maybe my observations aren't perceptive, but...
How'n the --- does a company that makes NOTHING useful get a billion dollars? Timing their IPO for an up-tick? Maybe they should create a virtual finacial market game annd simply put their IPO on that.
(Come to think of it, a fantasy computer-game market would be interesting to observe, to see if it trended in parallel with the real market or not...then, if it was successful, especially if it was MORE successful than the real market, (flight to safety, anyone? Zyga's market gives expectation of higher returns!)one could have it offered in the real market for "real" money... wait! Isn't the whole fucking ball of wax a FUCKING GAME?MATRIX?FANTASY?COLLECTIVE MENTAL MASTURBATION EXCERSIZE???)
Well, I want to rant on about how Zynga produces nothing useful, and how bizarre that is, but then I realized that someone who writes a novel is doing the same thing, creating a virtual world, only not interactive, (certainly a novel isn't useful, in the strict sense) and novels have been around for 500 years. So, I'll go easy on Zynga after all. But I don't see Stephen King putting out an IPO. Maybe he should.
(fucking rant fizzled out on me, dammit!)
My reservations about Zynga aren't that it doesn't produce anything useful. People like playing games and Farmville can be addictive (I know a director of engineering at Cisco who loves the game). My complaint is that investing in Zynga flies in the face of the fact that the public has a 15 minute attention span. In a month, two months, six months, something new will come along and people will start playing that instead of Farmville. Will Zynga come up with that next, new, hot thing? Maybe, maybe not, but I wouldn't want to bet my money on it.
it happens. you took on way too much in the third paragraph -- you'd need a book the size of The Stand with some colorful charts to flesh this all the way out.
Zynga--I mean, just the name...
Fraudville.
Bazynga!
My coworker had pulled a stint there. He says :
- everyone is desperate to sell. Privately, in some cases if they can get their shares.
- vested employees do not "have" their shares but Zynga is holding them hostage. Possibly to prevent a flood on the market.
- some employees inexplicably get tons, and tons of shares whereas daily employees seem to get passed over. Possibly to concentrate power in the yesmen contigent.
- meatball churn and burn outfit
- every employee fears its a Webvan 2.0
ah, i see, it's a typical small-med cap american company.
stands to reason, i suppose.
Yet Bitcoin is doing extremely well ... check out bitcoin news from
http://www.silverrevolucion.com/index.php?category=bitcoin
For the last few months, they've been on a hiring spree for middle management producer-types and (2nd-rate) coders--it feels like SF Bay Area circa 1999 all over again. Everybody who's leaving for a new job is headed to Zynga on expectations of becoming IPO millionaires.
Waiting for less-troubled times? The way i see it, in better times, there would be more people engaging in real life, and fewer resorting to virtual endeavors. Zynga seems to be in the "bread and circuses" category, need for which goes down with stability and prosperity.
Oh right, Zynga is concerned about market conditions, not economic conditions.
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