Zynga Inc Chief Executive Mark Pincus said the social games company can double the number of its paying players but he and other executives sidestepped questions about player retention and churn rates, speaking at a luncheon ahead of its IPO.
By Mike Rose From GAMASUTRA
With its initial public offering due to start trading next week, Zynga has told investors that it believes it can double its current number of paying customers.
As part of an investors luncheon, and as reported by business website Reuters, Zynga chief executive Mark Pincus explained, at this moment in time, less than three percent of the company's 227 million monthly active users -- around 7.7 million -- are considered paying customers.
However, he said that, following the opening of its IPO trading, Zynga will be looking to extend that figure. "We could see that doubling," he told investors, although he did not give a specific timeframe.
Pincus also said that the company currently has 13 million daily average users for its mobile games, up compared to the 11.1 million it stated in October.
Zynga filed papers earlier this month with the Securities and Exchange Commission, detailing plans about its upcoming IPO that will begin trading on December 16.
The company is looking to raise between $850 million and $1 billion as part of the IPO, with a $5.9 billion to $6.99 billion valuation.
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