Kelly says that Zynga will raise between $1.5 and $2 billion in its offering. The company, says CNBC, has selected Morgan Stanley as the main underwriter of the IPO, with Goldman Sachs and Bank of America also listed as additional underwriters.
Kelly also reports that Zynga will be looking to raise both debt and equity funding in the offering, and is currently profitable.
Zynga has been speculated to be near filing its initial S-1 for an IPO. The company reportedly recently raised $250 million in new funding at a $7 to $10 billion valuation earlier this year. Zynga’s investors include Reid Hoffman, DST, Google, Tiger Global, Kevin Rose, Kleiner Perkins, Union Square Ventures, Andreessen Horowitz, Peter Thiel, Foundry Group and IVP.