zynga_logo_2011.jpgZynga (news, site), the company behind FarmVille, is getting ready to go public, according to breaking reports.

IPO Season is Here

As talk of another Internet bubble rumbles on, the second big IPO of the season is waiting in the wings, with reports of anything from a couple of weeks to a month before social gaming giant Zynga joins the stock market.

Trading on the private markets (for those who already hold shares in the company) are pricing it north of US$ 10 billion, which will outstrip LinkedIn's recent explosive debut on the New York Stock Exchange. Zynga does have the advantage of a booming and profitable business model, with tens of millions of users on its popular games, buying pennies worth of content in huge quantities and paying a few dollars for premium extras, generating up to a US$ 1 billion in revenue already.

Gaming the System

Having evolved from the cuteness of FarmVille to more edgy content like Mafia Wars, Zynga appears all over Facebook, MySpace and on Yahoo using the social media to spread its appeal, and now has a raft of iPhone and mobile apps to diversify.

Mafia Wars appeals to more adult gamers

Zynga has been using its revenue to good effect, picking up smaller developers to build itself into the monster-dominating social gaming, with its latest title involving none other than Lady GaGa. Expect a similar, if not greater interest, than LinkedIn's IPO when Zynga does hit the steet, with the banks raking in most of the cash again.