Monday27 March 2023

Zynga falling apart

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Every day since Zynga, the company best known for Farmville and similar games for wasting time, put their shares on stock market last year, they kept on falling into deeper trouble every day. Stock prices are falling, earnings decline, and the company was abandoned by several key members, disgruntled by a direction in which the company is going, but also with the strict hand of Mark Pincus, founder and until recently CEO of Zynga. Pincus earlier this month stepped down from CEO position, leaving it to Don Mattrick, a former Microsoft's chief for Xbox.

But it seems that the change has not been very helpful; according to the latest report, the company was abandoned by three high ranked managers. John Oswald, senior vice president of games, then Nathan Ether, vice president of games and Jesse Janosov, vice president in charge of gambling division. Number of bigwigs who have fled from this once supposedly promising company, is now deep into double digits.

Zynga recently announced results for the second fiscal quarter, which show a decline in the number of daily active players by 45% (to 39 million) and a decline in the number of monthly active players by 39%. Revenues fell by 31%, and they ended quarter with a loss of nearly $16 million.

Is this the beginning of the end for Zynga? Tell us what you think in our Forum

Last modified on Tuesday, 30 July 2013 22:34

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