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Zynga Seeks To Raise $500M

Zynga is seeking to raise around $500 million from a group of investors.

Zynga is seeking to raise around $500 million from a group of investors, The Wall Street Journal reports. The U.S. social network game developer is in discussions with T Rowe Price Group, FidelityInvestments and MorganStanley for the fundraising, which would value the company at $10 billion.

The company’s existing investor, Kleiner Perkins Caufield & Byers, is also expected to take part in the fundraising. The California-based company was previously in preliminary talks with investors to raise around $250 million, valuing the company between $7 billion and $9 billion.

Click here for the story from The Wall Street Journal.

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