Zynga little changed after $1B IPO

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Friday, December 16, 2011

Zynga, the largest maker of games for Facebook, was little changed after initially raising $1 billion in an initial public offering.

The shares, listed on the Nasdaq Stock Market under the symbol ZNGA, gained 1 cent to $10.01 at 11:36 a.m. New York time. The developer of games such as “CityVille,” “FarmVille” and “Mafia Wars” sold 100 million shares for $10 each, the top end of an $8.50 to $10 range, Zynga said in a statement.
The offering is the biggest by a U.S. Internet company since Google Inc. raised $1.9 billion in its 2004 IPO, data compiled by Bloomberg show. Zynga’s increasing ubiquity and expansion prospects appeal to investors, according to Colin Sebastian, an analyst at Robert W. Baird & Co. in San Francisco.

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Old power works like a currency. It is held by few. Once gained, it is jealously guarded, and the powerful have a substantial store of it to spend. It is closed, inaccessible, and leader-driven. It downloads, and it captures.

New power operates differently, like a current. It is made by many. It is open, participatory, and peer-driven. It uploads, and it distributes. Like water or electricity, it’s most forceful when it surges. The goal with new power is not to hoard it but to channel it.

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This month we also take a look at a controversial new U.S. Securities and Exchange Commission rule requiring public companies to disclose the median pay of workers, as well as the ratio between CEO and median-worker pay. 

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That sounds like a call to arms. Or a New Year’s resolution. Old power or new, the goals are the same: to be a force for positive change in the world. Happy 2015!

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