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News Bite: Zynga Delays IPO

Zynga, the social games software developer, has decided to delay its Initial Public Offering (IPO), according to sources close to the New York Post.  In June, Zynga announced that it would take the company public in September; however, management is now delaying the IPO until  December due to “rocky stock markets”.

According to reports, the delay is also related to questions the Securities and Exchange Commission has about how Zynga measures its daily and monthly users, as well as its bookings. Zynga uses a financial measure called bookings, which is revenue from the sale of virtual goods that are used in games. The company filed on July 1 for an IPO worth up to $1 billion.

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