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Wed, April 1 at 7:00PM ET
 
 
 
 

Zynga Gets Into the Real Estate Business

It plans to buy its headquarters building for $228 million

Only about four years old, Zynga (NASDAQ:ZNGA) has become one of the hottest gaming companies in the world. It generates over $1 billion in revenues, which come mostly from selling virtual items. Oh, its market cap is about $10 billion.

So what’s next? Zynga now wants to get into real estate. That is, the company plans to shell out $228 million for its headquarters, which is located in San Francisco. Zynga has already made a $25 million deposit.

No doubt, this transaction is chump change, because Zynga has nearly $2 billion in the bank.

The headquarters it’s buying is about 670,000 square feet. It also has some unique design features.  For example, there is a Winnebago in the entrance and cafes that are well stocked with expensive sushi.

 


Article printed from InvestorPlace Media, https://investorplace.com/2012/03/zynga-gets-into-the-real-estate-business/.

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