Zynga shares up 17% following Facebook IPO filing

Fri Feb 3 2012, 12:32 PM

Zynga's share price shot up 17% following Facebook's IPO filing last week, closing at USD12.39 per share on Thursday and giving the social gaming firm a market cap of USD88.6bn. Investor confidence seems to be driven by Zynga's strong relationship with Facebook, with Zynga responsible for 12% of the social network's USD3.1bn revenues. This places Zynga as Facebook's highest contributing partner in terms of revenues, driven by a mix of virtual goods revenues and advertising.

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