Zynga has hired a new CFO to its team, adding to speculation that the company maybe preparing to float on the stock market.
Dave Wehner, former managing director at media and technology investment bank Allen & Co, will step into the role vacated by Mark Vranesh, who will now serve as Zynga’s chief accounting officer, suggesting a management shuffle.
That’s according to VentureBeat, which has been told by a ‘familiar’ source that the news does not mean an IPO is imminent. Zynga also refused to comment to the site on the mater.
Regardless, rumours of Zynga’s movement to float persist. If true, with Zynga’s value now potentially close to $5 billion, any IPO could be the most significant in the flourishing social gaming sector.
After a string of bold acquisitions, Zynga continues to court controversy, established back when its was embroiled in the scam ads scandal, and reinvigorated by the recent closure of Street Racer game.
Regardless, Zynga continues to enjoy extravagant success, marked recently by its move on the Japanese market.