Zynga filed for its much awaited $1 billion IPO this morning, revealing some impressive revenue and profit numbers. And it looks like recent tech IPOs Pandora and LinkedIn are seeing some major increases in stock value in morning trading after a rocky few weeks.
LinkedIn, which opened at $83 per share in May, has hovered between $60 and $75 per share for the past month, dipping as low as $60 per share. Over the past few days, LinkedIn stock has climbed upwards, closing at $89.94 yesterday. And today, stock reached as high as $94.99 this morning, giving LinkedIn a $9 billion valuation.
Pandora, which opened at $20 per share, has dropped as low was $12.10 per share, and has hovered between $12 and $15. Today, Pandora’s stock rose as high as $21.20, giving Pandora a $3.4 billion valuation.
We’ll see if Pandora and LinkedIn can sustain these stock values beyond today.
Zynga was founded in July 2007 by Mark Pincus and is named for his late American Bulldog, Zinga. Loyal and spirited, Zinga’s name is a nod to a legendary African warrior queen. The early supporting founding team included Eric Schiermeyer, Michael Luxton, Justin Waldron, Kyle Stewart, Scott Dale, John Doerr, Steve Schoettler, Kevin Hagan, and Andrew Trader. Zynga’s mission is connecting the world through games. Everyday millions of people interact with their friends and express their unique personalities through our...
Pandora Radio is an internet radio service, recommendation service, and the custodian of the Music Genome Project. Users enter a song or artist that they enjoy, and the service responds by playing selections that are musically similar. Users provide feedback on approval or disapproval of individual songs, which Pandora takes into account for future selections. While listening, users are offered the ability to buy the songs or albums at various online retailers. As part of the Music Genome Project, over...
With over 100 million users representing over 200 countries around the world, LinkedIn is a fast-growing professional networking site that allows members to create business contacts, search for jobs, and find potential clients. Individuals have the ability to create their own professional profile that can be viewed by others in their network, and also view the profiles of their own contacts. Competitors to LinkedIn include sites such as XING, Doostang and Ecademy. Of note, LinkedIn won...
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