Zynga Is Said to Favor Following LinkedIn With ‘Low-Float’ IPO
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Zynga Inc. plans to sell a small number of shares in its initial public offering, adopting a strategy used by LinkedIn Corp. to maintain control of the company while raising money to expand, according to a person with direct knowledge of the matter.
Zynga may make less than 10 percent of its shares available to the public in its IPO, said the person, who declined to be named because the plans are private. That compares with a 24 percent average among U.S. technology IPOs in the past year, according to Bloomberg data.