Zynga is looking to sell $1 billion worth of shares, priced between $8.50 to $10 a share and valuing the company at nearly $7 billion, but still below its initial plans according to an amended initial public offering released on Friday.
If Zynga's IPO is completed it will be the biggest for a U.S. internet company since Google's (GOOG)
In November, Groupon (GRPN)
The San Francisco-based company had tried to do a larger IPO, but cut its size as public offerings have faltered in interest among investors. Zynga's IPO has been delayed multiple times after earlier expectations of a filing this summer and fall, as markets waned.
Groupon has fallen over 12% since its November filing, while overall, recent Dealogic data shows that newly public companies have fallen nearly 10% in their first six months of trading.
In Zynga's offering many current private shareholders like Avalon Ventures, Foundry Group, Institutional Venture Partners and Union Square Ventures will sell shares to public investors.
Zynga's largest shareholders, founder Mark Pincus and venture capital firm Kleiner Perkins Caufield & Byers won't be selling shares, according to Bloomberg reports.