Zynga Estimates Its Own Worth with Expensive Stock Offering

I don't have a Facebook. Last year, when everyone seemed to be in a huge tussle over Farmville, I didn't know what to think. Honestly, I've never played a Zynga game and I don't plan to anytime soon. So I've got to ask: Is the company worth a BILLION dollars?

Zynga filed with the Securities and Exchange Commission to take itself public and hopefully sell enough shares at a cost totaling $1 billion. While the SEC has final say over how much stocks should initially be valued at, I wouldn't be surprised if the number lands somewhere near that value.

The notice to the SEC states that the company's stock offering revolves around building capital, marketing, and making more games. An open letter to potential investors states:

With this offering we are inviting you to join our mission. Invest with us because you believe in the potential for the world to play together. Evaluate us by how many of your friends and family play our games. Before you invest, we hope you will play our games. And, if you're prat of the hundreds of millions who have already played our games, thank you. You're part of the future.

While I can't perceive the importance of Zynga in the gaming marketplace, I assume that an offering this expensive means they're using every ounce of weight they've got.