Online Social Gamer Zynga To File Initial Public Offering To Raise $2 Billion

NEW YORK – Online social gaming company Zynga is preparing to file for an initial public offering as early as Wednesday and hopes to raise up to $2 billion, people familiar with the matter said.

The maker of the popular FarmVille and CityVille games has picked Morgan Stanley to lead the offering, they said. Goldman Sachs Group Inc. is also a lead underwriter, and J.P. Morgan Chase & Co., Barclays Capital and Bank of America Merrill Lynch will play a role in the IPO, the people told the Wall Street Journal.

The company is expecting a valuation of between $15 billion and $20 billion, the people said.

A Zynga spokeswoman didn’t immediately respond to messages seeking comment.

CNBC earlier reported the news.

A valuation of $20 billion would be in the range of Yahoo Inc.’s market value, about $19.5 billion.

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