Zynga IPO Aims to Value Company at Lower-Than-Expected $10 Billion (Report)

NY - Zynga, the company behind such Facebook games as FarmVille, CityVille and Mafia Wars, is targeting a lower market valuation in its upcoming IPO than originally expected, Reuters reported.our editor recommendsZynga Executives to Start Pitching Investors on IPO Next Week (Report)Zynga Eyes November IPO (Report)Zynga to Trade on Nasdaq Given a still-rocky stock market, it said the social gaming firm is looking for a valuation of up to $10 billion, Reuters said. Other reports said it could be as low as $7 billion. When it originally filed for an IPO this summer, some predicted a $15 billion-$20 billion valuation. The company later mentioned a third-party estimate that put its value at $14.05 billion. Based on Wednesday closing prices, video game giant Activision Blizzard had a market capitalization of $14.2 billion. Electronic Arts was worth $7.7 billion. Zynga's IPO is expected to price its shares in mid-December at $8-$10 each, which would raise $900 million, Reuters reported. The company is set to launch a so-called road show to market its IPO on Monday. Email: Georg.Szalai@thr.com Twitter: @georgszalai Related Topics Zynga