NEW YORK (AP) — Zynga’s stock is getting a lukewarm reception in the opening minutes of its public debut Friday.
Right after it began trading Friday, the company’s stock gained a few pennies over the $10 per share it priced at Thursday night. It wasn’t the eye-popping jump that’s been the norm for freshly public Internet darlings such as Groupon and LinkedIn.
Zynga raised $1 billion in its IPO. That makes it the largest Internet-related IPO since Google Inc. went public in 2004, raising $1.4 billion. CEO Mark Pincus rang the Nasdaq’s opening bell in San Francisco.
Zynga rounds out a year of high-profile Internet IPOs. The biggest of them all, though — Facebook — is not expected until after April.