It's hard to believe a company that only a couple of years ago was relying on scammy CPA deals to float itself and mostly churns out formulaic gamified skinner

It's hard to believe a company that only a couple of years ago was relying on scammy CPA deals to float itself and mostly churns out formulaic gamified skinner boxes for facebook users is looking at a public valuation north of $10B. I've been wrong plenty of times before, but I certainly won't be a buyer here, especially considering Eric Tilenius' comments last week that an appreciating IPO is a sign of a poorly priced IPO. Given lofty private valuations compared to existing gaming properties, the apparently opportunistic timing and a stated propensity to price at the top of the market it's hard for me to believe Zynga will even manage to keep pace with the S&P.