Zynga, creator of the -Ville online gaming franchise, filed Friday to raise up to $1 billion in an initial public offering. Unlike many of its fellow much-buzzed-about Web upstarts, Zynga is solidly profitable. In 2010, the company had a $90.6 million profit on sales of $597 million, according to its SEC filing. In the first three months of 2011, Zynga earned $11.8 million on sales of $235.4 million. Zynga said it has 60 million daily active users, who collectively spend 2 billion minutes each day playing its games. Competitors include Electronic Arts (ERTS), Disney-owned (DIS, Fortune 500) Playdom and PopCap Games. Read more: http://money.cnn.com/2011/07/01/technology/zynga_IPO/index.htm?hpt=hp_t2
