Zynga首度公開募股,Facebook迎來市場考驗
????據美國全國廣播公司財經頻道(CNBC)的凱特?凱莉透露【她似乎已在主承銷商摩根斯坦利(Morgan Stanley)公司找到了穩定的信息來源】,社交游戲巨子Zynga公司(Zynga)計劃于本周遞交相關文件申請進行首度公開募股。該公司希望以150億到200億美元的市值募集15億美元到20億美元。這意味著Zynga已在二級市場交易的價格出現25%的溢價,也為不敢買入團購網站Groupon公司股票的交易者提供了另種一選擇。 ????不管何時打開Zynga公司的股票發行推薦書(S-1),不出意外,大多數批評都集中在該公司對Facebook公司的依附關系上(新股發行者不管取得多大成功,總是難逃批評)。 ????我最好的推測是,當然僅僅只是推測而已,這波抨擊將是短命的,很快就會被人遺忘。從客戶的角度看,存儲內存平臺Fusion-IO公司對Facebook的依賴極大,但這并未有損該公司的股價?;ヂ摼W內容供應商Demand Media公司承認,潛在的大患是谷歌公司(Google)頻繁修改其搜索算法,但其股價仍然堅挺(雖然它一度在二級市場苦苦掙扎)。 ????真正的問題在于,人們是否能普遍接受像Facebook這樣的互聯網公司作為一個合法穩定的平臺,為其他上市公司的發展提供基礎。就像現在人們普遍認可微軟公司(Microsoft)或蘋果公司(Apple)的操作系統是軟件開發者的共用平臺一樣。 ????Zynga公司將是迄今為止最大的一次實驗,而它顯然已通過私募市場的初步考驗了。即將到來的首度公開募股將是一場決賽。 ????譯者:清遠 |
????Social gaming juggernaut Zynga plans to file for an IPO this week, according to CNBC's Kate Kelly (who seems to have found a steady leak within lead underwriter Morgan Stanley). It would look to raise between $1.5 billion and $2 billion, at a valuation of between $15 billion and $20 billion. This would represent up to a 25% premium to where Zynga has been trading on the secondary markets, and could serve as a portfolio alternative to traders scared of getting into Groupon. ????Whenever we do get to see Zynga's S-1, expect most of the criticism to focus on its Facebook dependency (there always is criticism of a new issuer, no matter how successful). ????My best guess, and it's only a guess, is that this line of attack will be short, swift and forgotten. Fusion-IO (FIO) was largely reliant on Facebook from a client perspective, and that hasn't hurt the stock. Demand Media (DMD) admitted potential disaster is Google (GOOG) tinkered too much with its search algorithms, yet still priced well (although it had struggled in the aftermarket). ????The real question is if an Internet company like Facebook can be widely accepted as a legitimate, stable platform upon which other publicly-traded companies can build. Kind of like how the Microsoft or Apple operating systems are viewed today for software makers. ????Zynga will be the largest test to date, and it clearly has passed the private-market preliminaries. Its IPO will be the medal round. |
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