Law360, New York (December 16, 2011, 9:32 PM EST) -- Zynga Inc., creator of the FarmVille and CityVille phenomena as well as other games that piggyback on Facebook Inc.'s tidal wave of popularity, became a publicly traded company Friday when it made a $1 billion initial public offering of its stock.
The San Francisco-based social network game developer, traded on NASDAQ under the symbol ZNGA, offered 100 million shares of its Class A common stock, priced at $10 a share. At that share price, Zynga's initial valuation is about $7 billion.
However, the company received a cool reception from investors on Friday. Zynga's share price reached a high of $11.50 before...
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