Breaking News English

Zynga, the company the Internet games Farmville, Cityville and Mafia Wars, has to impress investors at its Initial Public Offering (IPO) on Thursday. Expectations were that the stock in the company would off on New York’s Nasdaq Stock Exchange. Analysts believed the $10 share opening price would increase by 10 per cent at the of trading. They were disappointed. Shares in the games fell by five per cent to close at $9.55 per share. IPO expert David Menlow described the day’s as a “mammoth fail”. He said the reason was the company had valued itself at too high a . "I believe that this was an affirmation that investors are a twitchy regarding these self-imposed high valuations," he said.

Zynga is a social network game . Ninety per cent of its games are played on Facebook and it has over 200 million users. CEO Mark Pincus said he was more with statistics like these and with "delivering great " than on share prices on a day’s trading. He still has a lot of cause to be of his company’s IPO – the $1 billion raised it the largest Internet IPO since Google went public in 2004. The company did once the IPO to raise $2 billion to give a valuation of $20 billion. Pincus said: “We didn't have any expectations coming into this process." The Wall Street Journal said it was confident Zynga would be a success. It cited the doubling of revenues in the first nine months of 2011 as for optimism.