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(Reuters)- Zynga Inc plans to sell an 11.1 percent stake in a scaled-back initial public offering that would value the Facebook game maker at as much as $9 billion on a fully diluted basis.
The leading social games maker plans to sell 100 million new shares at between $8.50 and $10 each, according to a U.S. regulatory filing on Friday.
At the midpoint price, the IPO could raise $925 million, which would make it the largest from a U.S. Internet company since Google Inc raised $1.7 billion in 2004.
Five-year-old Zynga made its name on viral games such as “FarmVille,” among the most popular on the Facebook social network. While Zynga’s games are free to play, the company makes money from selling virtual items — such as tractors and weapons — that players then use.
Based on a fully diluted share count of 904 million, which includes existing shares and stock options, the IPO price values Zynga at $7.7 billion to $9.04 billion.
In a filing two weeks ago, the company said a third-party analysis had valued it at $14.05 billion. While the valuation has been cut, Zynga would still be among the largest publicly traded U.S. game developers after it debuts on Nasdaq under the “ZNGA” symbol.
Video game developer Activision Blizzard Inc currently has the industry’s highest market value of $14.2 billion, followed by Electronic Arts Inc at $7.7 billion.
Zynga’s debut will follow IPOs this year from Groupon Inc and LinkedIn Corp, which helped revive a market that had sputtered in recent years. Facebook is gearing up to go public next year.
Mark Pincus, a serial entrepreneur before he founded Zynga, will hold a class of shares with 70 times more voting power than the regular stock that will be sold in the offering.
Google, one of the early investors in Zynga, will be offering about 1.7 million shares, according to a regulatory filing. Other companies selling shares include Institutional Venture Partners and Union Square Ventures
Deep-pocketed rivals from Walt Disney Co to Electronic Arts are starting to muscle in on Zynga’s turf.
The company said its IPO represented 14.3 percent of 699 million common shares, excluding restricted stock.
(Reporting by Liana B. Baker in New York and Brenton Cordeiro in Bangalore; Editing by Lisa Von Ahn)
LONDON ? Prince William joined a frantic search and rescue mission Sunday after a cargo ship sank in the Irish Sea, leaving several members of the Russian crew missing.
The second in line to the British throne, who is a Royal Air Force helicopter and known professionally as Flight Lt. William Wales, was aboard an aircraft which rescued two crew members early Sunday, after their vessel’s hull cracked in gale force winds off the coast of north Wales.
Britain’s defense ministry said William had been co-pilot of the helicopter, which carried two people back to his base RAF Valley, on the Welsh island of Anglesey.
Authorities said five people remain missing after the Cook Islands-registered Swanland cargo ship, which had eight people on board and was carrying thousands of tons of limestone, sent a mayday call.
Holyhead Coastguard said one body had been recovered from the sea, but that the fate of the other crew members was not yet known.
“We know that at least some of them are wearing immersion suits and have strobe lighting with them, however sea conditions are challenging at best,” said Jim Green, a coastguard spokesman.
Rescue helicopters from RAF Valley and from Dublin coastguard base in Ireland were initially sent to the scene, about 20 miles (32 kilometers) northwest of the Llyn peninsula in north Wales.
Helicopters from RAF Chivenor, in southwest England, and the Irish Coastguard are continuing to search for the missing crew, along with boats from the Royal National Lifeboat Institution.
“Two RNLI lifeboats, along with four search and rescue helicopters and two other commercial boats, are searching for the remaining six crew,” the RNLI said in a statement.
Gale force winds battered the Irish Sea on Sunday and the coastguard said it is believed the poor condition could have caused the incident.
Zhawen Wahpepah and August Haddick burn sage during a cleansing ceremony on Friday at a memorial for David Grubbs in Ashland, Ore. Grubbs was killed last weekend in an apparent random attack by a stranger wielding a sword or a machete.
By Jeff Barnard, Associated Press
ASHLAND, Oregon — In this storybook town, murder is commonplace on the stages of the Oregon Shakespeare Festival, where sword fights are carefully choreographed entertainment, and the blood that spurts is fake.
The real-life slaying of a young grocery clerk nearly decapitated by an apparent stranger wielding a sword or machete has sent a shiver of horror through residents and visitors alike, and stumped investigators desperately searching for clues.
A small shrine is growing on the side of the bike path where 23-year-old David Grubbs was killed last weekend while walking home from work, the way he had countless times, just as darkness was falling. It’s an open place next to a parking lot where the path goes through a park with ball fields and tennis courts ? and past an elementary school ? where parents bring their small children to play.
“I’m freaking out,” said Zhawen Wahpepah, who came to the shrine Friday morning with her boyfriend, August Haddick, to burn sage and leave a booklet of music that she and Grubbs had played together as members of a school chamber orchestra. She added it to the candles, flowers, carrot cake, NY Times Sunday crossword puzzle, music CDs, photos, and lyrics from the song, “Stairway to Heaven.” They were all carefully placed on the ground next to a green metal cross painted with the name David and driven into the ground.
“I think it was a thrill kill,” said Wahpepah. Grubbs “was not into anything bad. He was just really shy and really nice,” she added.
“I used to walk this way home, and now I don’t anymore because of this,” said Haddick, who worked stocking shelves at the Shop’n Kart grocery with Grubbs. Living in the same student neighborhood, they often walked home together, but the night of the slaying, Haddick’s schedule had him working three hours later, so Grubbs walked home alone.
When Haddick drove by last Saturday night with a friend, the spot was cordoned off by police, blue lights flashing in the darkness. Haddick didn’t know until the next day, when the “Rest in Peace” tributes appeared on Facebook, that Grubbs had been killed.
“It’s hard to imagine it could just as easily have been me,” he said.
Ashland is a liberal outpost in conservative rural Oregon. The town of 20,000 just a few miles north of the California border is known for good schools, good restaurants, high housing prices, and deer that walk freely through town. Many residents are happy to work at low-paying jobs serving tourists for the chance to live here.
“It’s like this little paradise,” said Brenna Heater, who knew Grubbs growing up and now works behind the counter of a downtown pizza joint. “The fairytale land is like the definition to us. I always use the word magical ? our little magical Ashland. New people are coming here every day. The Shakespeare festival keeps this town upbeat and hip.”
Police have little to go on. No one has come forward to say they witnessed the slaying. No weapon has been found. The 911 call came from a woman riding her bike down the path, who was stopped by a man who found Grubbs lying in the bike path. They initially thought Grubbs was passed out, but on looking closer saw the deep wounds around his head and neck, said Police Chief Terry Holderness. Investigators don’t think either of them had anything to do with the slaying. The woman saw a man leaving the area, but didn’t get a good look at him. Police have not found him.
“This community has very little crime of any type, especially violent crime,” said Holderness. “To have this type of thing happen anywhere is very rare. We are contacting most major police departments up and down the West Coast looking for similar situations and haven’t found any yet.”
There was a machete attack about 100 miles north in the small town of Sutherlin, but police have ruled out any connection.
“Most homicide involves a person who commits the crime with some relationship to the victim,” Holderness said. “This might truly be random, which is very unusual for this type of crime. It makes it more likely to put other community members at risk.”
A random attack ending with near-decapitation is so rare that investigators have been unable to find an expert, Holderness added. There is not even enough information to develop a profile of the killer.
Friday morning, Jackson County sheriff’s Det. Colin Fagan stopped by to look over the killing ground again, hoping that something new might catch his eye. He found a branch lying on the ground, which might have been cut by a big blade before being broken off. But the cut looked old.
Fagan stood in a bed of Oregon grape bushes where a killer might have hidden, looked behind a nearby shed, and examined trees for cut marks. Finding none, he drove away.
There are a lot of things that you need to consider while investing in real estate. One of the major things that you would have to understand is the fact this is by far one of the most important investments that you will ever make in your lives and that is the reason why you should consider all the options before actually investing in anything specific. However if you are looking for something unique as well as beautiful and which also gives you access to the necessary facilities while giving you an excellent living experience you should consider looking at the options in hoboken real estate. This is a great place to invest in real estate for a lot of reasons. You have a lot of great communities out there and more importantly there are excellent housing options that can cater to all your needs efficiently hence making it an ideal place to buy your home.
I’m not convinced these are discounts you’ve really been ‘waiting 364 days for’, but Apple’s Black Friday deals have gone live this morning. The prices leakedearlier, but hey. If you were looking at buying a new Mac, iPod or the latest iPad, now’s the time, even if the discounts aren’t really that big in terms of percentages. You can also save on a bunch of accessories, ranging from peripherals to iPad Smart Covers and even iTunes Gift Cards. The iPhone gets no Black Friday love.
Washington, D.C. The composition of the Earth’s core remains a mystery. Scientists know that the liquid outer core consists mainly of iron, but it is believed that small amounts of some other elements are present as well. Oxygen is the most abundant element in the planet, so it is not unreasonable to expect oxygen might be one of the dominant “light elements” in the core. However, new research from a team including Carnegie’s Yingwei Fei shows that oxygen does not have a major presence in the outer core. This has major implications for our understanding of the period when the Earth formed through the accretion of dust and clumps of matter. Their work is published Nov. 24 in Nature.
According to current models, in addition to large amounts of iron, the Earth’s liquid outer core contains small amounts of so-called light elements, possibly sulfur, oxygen, silicon, carbon, or hydrogen. In this research, Fei, from Carnegie’s Geophysical Laboratory, worked with Chinese colleagues, including lead author Haijun Huang from China’s Wuhan University of Technology, now a visiting scientist at Carnegie. The team provides new experimental data that narrow down the identity of the light elements present in Earth’s outer core.
With increasing depth inside the Earth, the pressure and heat also increase. As a result, materials act differently than they do on the surface. At Earth’s center are a liquid outer core and a solid inner core. The light elements are thought to play an important role in driving the convection of the liquid outer core, which generates the Earth’s magnetic field.
Scientists know the variations in density and speed of sound as a function of depth in the core from seismic observations, but to date it has been difficult to measure these properties in proposed iron alloys at core pressures and temperatures in the laboratory.
“We can’t sample the core directly, so we have to learn about it through improved laboratory experiments combined with modeling and seismic data,” Fei said.
High-speed impacts can generate shock waves that raise the temperature and pressure of materials simultaneously, leading to melting of materials at pressures corresponding to those in the outer core. The team carried out shock-wave experiments on core materials, mixtures of iron, sulfur, and oxygen. They shocked these materials to the liquid state and measured their density and speed of sound traveling through them under conditions directly comparable to those of the liquid outer core.
By comparing their data with observations, they conclude that oxygen cannot be a major light element component of the Earth’s outer core, because experiments on oxygen-rich materials do not align with geophysical observations. This supports recent models of core differentiation in early Earth under more ‘reduced’ (less oxidized) environments, leading to a core that is poor in oxygen.
“The research revealed a powerful way to decipher the identity of the light elements in the core. Further research should focus on the potential presence of elements such as silicon in the outer core,” Fei said.
###
Portions of this work were supported by grants from the National Natural Science Foundation of China, the Fundamental Research Funds for the Central Universities, and the National Basic Research of China, as well as the National Science Foundation and the Carnegie Institution for Science.
The Carnegie Institution for Science (carnegiescience.edu) is a private, nonprofit organization headquartered in Washington, D.C., with six research departments throughout the U.S. Since its founding in 1902, the Carnegie Institution has been a pioneering force in basic scientific research. Carnegie scientists are leaders in plant biology, developmental biology, astronomy, materials science, global ecology, and Earth and planetary science.
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AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.
Public release date: 23-Nov-2011 [ | E-mail | Share ]
Washington, D.C. The composition of the Earth’s core remains a mystery. Scientists know that the liquid outer core consists mainly of iron, but it is believed that small amounts of some other elements are present as well. Oxygen is the most abundant element in the planet, so it is not unreasonable to expect oxygen might be one of the dominant “light elements” in the core. However, new research from a team including Carnegie’s Yingwei Fei shows that oxygen does not have a major presence in the outer core. This has major implications for our understanding of the period when the Earth formed through the accretion of dust and clumps of matter. Their work is published Nov. 24 in Nature.
According to current models, in addition to large amounts of iron, the Earth’s liquid outer core contains small amounts of so-called light elements, possibly sulfur, oxygen, silicon, carbon, or hydrogen. In this research, Fei, from Carnegie’s Geophysical Laboratory, worked with Chinese colleagues, including lead author Haijun Huang from China’s Wuhan University of Technology, now a visiting scientist at Carnegie. The team provides new experimental data that narrow down the identity of the light elements present in Earth’s outer core.
With increasing depth inside the Earth, the pressure and heat also increase. As a result, materials act differently than they do on the surface. At Earth’s center are a liquid outer core and a solid inner core. The light elements are thought to play an important role in driving the convection of the liquid outer core, which generates the Earth’s magnetic field.
Scientists know the variations in density and speed of sound as a function of depth in the core from seismic observations, but to date it has been difficult to measure these properties in proposed iron alloys at core pressures and temperatures in the laboratory.
“We can’t sample the core directly, so we have to learn about it through improved laboratory experiments combined with modeling and seismic data,” Fei said.
High-speed impacts can generate shock waves that raise the temperature and pressure of materials simultaneously, leading to melting of materials at pressures corresponding to those in the outer core. The team carried out shock-wave experiments on core materials, mixtures of iron, sulfur, and oxygen. They shocked these materials to the liquid state and measured their density and speed of sound traveling through them under conditions directly comparable to those of the liquid outer core.
By comparing their data with observations, they conclude that oxygen cannot be a major light element component of the Earth’s outer core, because experiments on oxygen-rich materials do not align with geophysical observations. This supports recent models of core differentiation in early Earth under more ‘reduced’ (less oxidized) environments, leading to a core that is poor in oxygen.
“The research revealed a powerful way to decipher the identity of the light elements in the core. Further research should focus on the potential presence of elements such as silicon in the outer core,” Fei said.
###
Portions of this work were supported by grants from the National Natural Science Foundation of China, the Fundamental Research Funds for the Central Universities, and the National Basic Research of China, as well as the National Science Foundation and the Carnegie Institution for Science.
The Carnegie Institution for Science (carnegiescience.edu) is a private, nonprofit organization headquartered in Washington, D.C., with six research departments throughout the U.S. Since its founding in 1902, the Carnegie Institution has been a pioneering force in basic scientific research. Carnegie scientists are leaders in plant biology, developmental biology, astronomy, materials science, global ecology, and Earth and planetary science.
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?
AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.
[unable to retrieve full-text content]People are certainly thinking about how they can help the environment by living greener and you can use these ideas for home improvement as well. You can actually make the comfort and style of your home … Continue reading →
Welcome to the difficulty faced by every business owner since Hargem the Haircutter sharpened the first set of rocks and tried to convince someone to help him open a barber shop ? so that all the long haired men could … Continue reading →
Sexual harassment is now nothing. Welcome to the era of gender harassment denialism. The harassment skeptics claim that harassment, like racism, used to exist but is now over. Twenty years ago, when charges were leveled at Clarence Thomas, supporters of … Continue reading →
Public release date: 23-Nov-2011[ | E-mail | Share ] Contact: Yingwei Fei yfei@gl.ciw.edu202-478-8936Carnegie Institution Washington, D.C. The composition of the Earth’s core remains a mystery. Scientists know that the liquid outer core consists mainly of iron, but it is believed … Continue reading →
I’m not convinced these are discounts you’ve really been ‘waiting 364 days for’, but ![[ Back to EurekAlert! ]](http://www.eurekalert.org/images/back2e.gif){kind=small}
Public release date: 23-Nov-2011
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