Social gaming company Zynga valued itself at $11.15 billion in March, according to a new SEC filing.
Zynga obtained the third-party valuation report one month after it raised $490 million in Series C financing, as pointed out by TechCrunch. That deal sold Series C stock for $14.03 per share. The $11.15 valuation was based on fully-diluted shares outstanding.
Zynga’s IPO could place the company’s valuation much higher, by the time it hits public markets. Zynga filed its S-1 to go public in July.
What is the status of that IPO with the current market turmoil? Will IPOs slow down? Zynga is closely watched as one of the largest consumer Internet companies on file to IPO.
Observers I talked to think the biggest and best companies will still get out–unless the market turns much worse. We’ll see how things shake out the rest of this month and into September.
With Zynga’s third party analysis, management estimated the probability of an IPO at 80%, a strategic sale at 5% and “continued operations” at 15%.
Zynga has also secured $1 billion in a new credit facility, according to the SEC filing. Zynga paid upfront fees of $2.5 million in the credit deal and is required to pay fees up to $625,000 per quarter.
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