Zynga To Delay IPO Because of Market Conditions [REPORT]

[Waqas 48]

Zynga is delaying its IPO — originally set for next month — until November, according to a report.

The social gaming company is spooked by the “rocky stock markets,” according to the report in The New York Post, which cites two sources with knowledge of Zynga’s plans.

Mashable could not reach reps from Zynga for comment.

In late June, Zynga announced plans to go public. The company, which is behind FarmVille, CityVille and Mafia Wars, among other titles, hopes to raise $1.5 billion to $2 billion in its IPO. But since the debt ceiling debate this summer, tech stocks have been hit hard.

Zynga’s is one of several social media IPOs planned over the next few months. Another high-profile social media IPO, Groupon’s, has also reportedly been delayed, but because of SEC accounting concerns, rather than stock market conditions.

More About: facebook, groupon, IPOs, Zynga

For more Business & Marketing coverage:

• Follow Mashable Business & Marketing on Twitter
• Become a Fan on Facebook
• Subscribe to the Business & Marketing channel
• Download our free apps for Android, Mac, iPhone and iPad