Farmville may be going Wall Streetville sooner rather than later.

CNBC reports that Zynga, the San Francisco-based gaming companywith huge success since it debuted in 2007—and has backers like Peter Thiel, Kleiner Perkins, Marc Andreessen, Google, and others—may file papers as early as today with the Securities and Exchange Commission to go public.

The company reportedly wants to raise between $1.5 billion and $2 billion, making 10 percent of its stock available for purchase. That places a $15 billion to $20 billion valuation on the maker of Mafia Wars and CityVille.

“I think Zynga has had this in the works for many months,” Nitan Hargil, director of research at GreenCrest Capital told CNNMoney in early June. At the time of that interview, he estimated the gaming firm to be worth approximately $14.5 billion. “They will not jut be a little profitable, they will be profitable in a very big way.”

But what will set Zynga apart from other IPOs that dazzled investors on their first day only to crash 24 hours after debuting and struggle to find their footing, a la Pandora and LinkedIn?

Just ask Bing Gordon, a partner at Kleiner Perkins, admits to “having a love affair with Zynga.” Gordon points to Zynga already having a monetization plan in place. While people can play for free, the company projects that on an annual basis 10 percent of gamers opt to pay for more features and for enhanced options—that’s especially true of those playing overseas, according to Gordon. He predicts that Stateside, the average revenue per user will start at $12 to $15. ““The interesting thing about the monetizers is that they like the games more after they pay,” he told Michael Arrington at TechCrunch Disrupt NYC in May.

The fact that Zynga already generates revenues differentiates it when it comes to social media companies getting ready for an IPO, analysts say. But as all eyes focus on Facebook—which yesterday hit another valuation high-point as GSV Capital Management infused $6.6 million into the social network, valuing the company at just over $70 billion—some wonder whether Zynga’s future is too intertwined with its Facebook counterpart.

We’ll have to wait and see the company’s S-1 filing to get some of the answers. But for now, some of the numbers are reassuring, according to Hargil. He estimates that “Zynga gets about 80 percent of its revenue from 3 percent of its users [who pay] real money for virtual goods, like tractors and animals for their online farms … the other 20 percent comes from advertising.”

And while the company did have a colorful past when it resorted to third-party partners before going the venture capital route to raise funds, its move to transparency with its VC partners—and gamers—has helped to quiet many critics.

For Bing, the decision to invest came down to a feeling of nostalgia. “It brings me back to the ‘80s and back to my youth,” he says. Whether it will bring him all the way to the bank, we’ll just have to wait and see.