Zynga ‘valued as high as $7 billion’

Social game giant Zynga is reportedly in discussion with several VC firms to raise $250 million – a move that could value the company at $7 billion.

Zynga, which formed in 2007, has multiple studios across continents and in major cities. It has fuelled its studio acquisition spree with huge investment deals said to rise above $800 million in total.

Yet its next round of funding, according to the Wall Street Journal, is a matter of days away.

Zynga is reportedly in discussions with at least one major bank and other interested backers.

The Facebook games giant, now embarking on a major expansion plan into the mobile games space, is thought to have around 1,500 employees.

As Zynga is a privately-listed outfit, its revenues and profit margins have been a matter of intense speculation.

The latest prediction, from the Wall Street Journal, is that the firm generated $400 million in profit from $850 million in revenue last year.