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Zynga says can double number of players who pay

Reuters News
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Posted: Dec 08, 2011 2:23 PM
Zynga says can double number of players who pay

(Reuters) - Zynga Inc Chief Executive Mark Pincus on Thursday told a group of potential investors that the social games company could double the number of its paying players.

At the end of September, Zynga, known for popular games such as FarmVille and Mafia Wars, had 6.7 million unique players. Paying players account for less than 3 percent of the total.

"We could see that doubling," Pincus said at a luncheon in Boston. He did not give a time frame for meeting the target.

Zynga executives are on the road this week pitching the company's stock as it prepares for a $900 million-plus initial public offering scheduled for next week.

Zynga Chief Financial officer David Wehner said the company is targeting an adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) in the "40 percent range."

(Reporting by Tim McLaughlin in Boston; editing by John Wallace)