, Zynga enters gambling sector
Zynga Inc. had been looking to solve its problem and it seems that it finally found a way. The famous online game publisher finally informed that it would ingress the real-money gambling sector in the UK. Is this the end of Zynga’s problems?
, Zynga cuts jobs and ends games
Zynga Inc. is cutting approximately 5 percent of its workforce and ending 13 games. The social game developer is also to shut down few of its offices. The reduction plan of Zynga Inc. is expected to compensate for decreasing sales growth.
, Zynga Inc.’s Chief Creative Officer Exits to Start Up his own Company
Mike Verdu, the chief creative officer of Zynga Inc., has left the company to start his very own company. Verdu happens to be the latest in a line of top tier executives who have all resigned from the company in the past few weeks. Several of Zynga’s studios and creative projects including FrontierVille, CastleVille and Empires and Allies, owe their development to the contribution of Verdu who had helmed the creative half of the company for more than a period of three long years, following his involvement with game developers, Electronic Arts. He was also the co-founder of game maker, Legend Entertainment.
, Zynga hit by class-action lawsuits after shares dropped last week
Zynga Inc., the well-known casual games publisher, was hit by lawsuits filed by its shareholders. They are accusing the popular game creator of not warning them about drops in user and revenue growth before Zynga’s outcomes resulted into a decline of its shares just last week. In addition, many of Zynga’s investors and executives cashed out their investment in the company for huge sums just before the firm’s stock dropped.
, Venture Capital Fundraising Experiences 35 percent Downfall
A 35 percent drop in the U.S. venture-capital fundraising was experienced in the first quarter of 2012. Industry experts believe that the investors might just be taking a break before they begin undertaking more funds in earnest. 42 separate funds raised a $4.9 billion total pot at the end of the quarter, including ones from Bain Capital Ventures and Canaan Partners. This is 9 percent fewer participating funds than the same quarter a year earlier, which raised $7.6 billion.
, Zynga Makes Its IPO Debut, 100 Million Shares Already Sold
Zynga has made a stand in virtual games like FarmVille, CityVille, mafia wars, and many more. The billion-dollar entry will be the second largest IPO offering since Google went public in 2004. The IPO has yet been topped only by online bargain service Groupon, which saw ups and downs in its stock prices after went public last month.
