Zynga Founder, Others to Sell 43 Mln shares

Zynga’s CEO and other insiders at the online games company plan to sell 43 million shares of stock in a public offering that will boost the amount of stock available for general trading by 35 per cent.

Class B stock owned by Mark Pincus and others will be converted to regular, Class A shares. All shares have the same ownership value, but Class B stock has seven times the voting power.

Pincus, who founded Zynga Inc in 2007, will control about 35 per cent of the company once the offering is complete. That’s down only slightly from 36.5 per cent because he will retain his Class C shares, which have 70 times the voting power of Class A stock.

Zynga, which had its initial public offering of stock in December, disclosed the latest plans in a regulatory filing Friday and said proceeds from the sale will go to the individuals, not the company.