Zynga not ready for Facebook’s IPO

Zynga-FacebookZynga which is one of the biggest partners in the online social networking website, Facebook has indicated that it is not yet ready for its public listing.

Zynga is the maker of online games which includes the famous ones like FarmVille and CityVille. It has said that it is not ready for the public listing for this year and wants one more year to pass by.

Sources in the company have said that Zynga is preparing plans to build its own empire outside Facebook. No comment was made by the company on this.

The step seems out of place since this is the time when both the users and the investors are attracted to the idea of social network. Then again some of the most prominent companies, in almost every area, including IT are trying to grab a share in the capital market just like what Google and Amazon have done.

There is also buzz in the market that professional-networking site LinkedIn and the group-buying service Groupon, are going for their IPOs this year itself.

Zynga is currently trading in one market at SharesPost and its estimated value is $5.8 billion.