Zynga’s IPO has happened and the social gaming company raised hundreds of millions of dollars overnight. While there had been some reluctance in the past to go public, Zynga CEO Marcus Pincus said that it makes sense for expanding their development capability.
“You get to the point where you have big enough numbers of employee shareholders and outside shareholders that it starts to make more sense to be public,” said Pincus.
Some have speculated that going public will cause some employees to bolt the company and sell their stock options. Pincus countered, “Our employees have a real love for Zynga and real pride. We’ve asked them not to go out and defend us in the press or blogs, so I don’t think that’s come through publicly yet.”
Source: Fortune
