Zynga Headed Towards an IPO?
Zynga is the social gaming darling of Facebook. And signs are pointing to the fact that the company isn't slowing down and potentially is headed towards an IPO.
The company announced last week that they Zynga hired Allen & Co. investment banker David Wehner as its new CFO. Wehner replaces Mark Vranesh, who moved to Chief Accounting Officer and will report to Wehner, according to Boomtown.
The San Francisco-based start-up put together an executive team, which is now headed up by Founder and CEO Mark Pincus.
The exec team has been quite busy as of late, securing hundreds of millions of dollars in venture funding, striking deals with Yahoo (YHOO), Google (GOOG) and international partners such as SoftBank, Boomtown reported.
These moves, of course, will enable the company to expand its distribution from Facebook, the social networking platform where it first took off (Zynga also recently signed a five-year agreement with Facebook).
According to Boomtown, Zynga made the hire due to its long-standing relationship with Wehner, who has been a managing director at the New York-based Allen & Co. for nine years.
“We are filling out our executive team and finding top industry talent to take the business to the next level,” said Zynga in an email statement, as reported by Boomtown.
What do you think of the move? Will you invest in Zynga?
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