Stories from All Things Digital and the New York Times report that Farmville and CityVille maker Zynga managed to raise $500 million in investment based on a valuation of $7 - $10 billion dollars. The Wall Street Journal contradicts that $500 Million, reporting that the company raised around $250 million.
All Things Digital claims that "Zynga has already raised more than $500 million from a panoply of Silicon Valley VCs, such as Kleiner, Andreessen Horowitz, as well as Russia’s DST Global."
The New York Times report goes on to say that the investment may "pave the way for an initial public offering next year."
Because Zynga is a privately owned company it is hard to gauge the exact amount of revenue and profit it generates each year. The last estimation, coming from the Wall Street Journal, puts the company at $400 million in profit from $850 million in revenue for 2010.
The latest estimate (from the Wall Street Journal) is that the firm generated $400 million in profit from $850 million in revenue last year.