Zynga â??worth more than EAâ??

Zynga â??worth more than EAâ??

By Rob Crossley

October 26th 2010 at 12:11PM

New independent data puts the Farmville studio at $5.51bn

The unprecedented growth of social game studio Zynga has seen the company’s valuation rocket past EA’s, according to independent data.

While previous independent valuations of Zynga were put between $2-3 million, SharesPost Inc calculates the Facebook games developer is valued at $5.51 billion. That figure puts Zynga’s estimated worth beyond that of Electronic Arts.

“The valuation is not that crazy, given what’s going on in the market,” said ThinkEquity LLC analyst Atul Bagga.

“It’s not that terribly expensive seeing the growth prospects,” Bagga added.

Zynga has undergone a process of fearsome expansion, having acquired over ten studios in twelve months, and now employs 1,200 full time staff.

The company is now making moves into Europe. Earlier this year it quietly opened a studio in Ireland and, more recently, bought German company Dextrose, creator of the Aves Engine.