Zynga, Incorporated, one of the two large tech companies (with Twitter) who railroaded Mayor Ed Lee and the SF Board of Supervisors to pass the Twitter Giveaway, will be making its Initial Public Offering in the next two weeks.
Zynga’s IPO price is settling in at about $9 billion and the company hopes to raise as much as $925 million.
If the tax-break given to Twitter extends to Zynga, it nullifies the long-standing SF law that would have given 1.5% of the sale to the City.
We will be losing nearly $14 million. That’s nothing to Zynga. They could negotiate it into the offer.
14 million dollars. <poof> just like that …. because of the political aspirations of Lee and Chiu…
Thanks Mayor Lee, and Supervisors Chiu, Farrell, Kim, Weine, Elsbernd, Cohen and Mar. You’re morons on this one.
That’s our new Mayor and Board President at work in the new SF.