It was another poor showing for Facebook last week as its stock price hit a new low Friday, dispiriting shareholders already frustrated by lower-than-anticpated profits. Billions in shareholder value was erased as the market value of Mark Zuckerberg’s flagship fell to nearly half of the $104 billion target set in May when the company went public, the Mercury Newsreports. [...]
In what is perhaps the most Draw some deal in Internet history, Words With Friends maker Zynga has purchased Draw Something maker OMGPOP. The deal was announced on a conference call with the press on Wednesday afternoon; though financial terms were not disclosed, Peter Kafka of AllThingsD reports that Zynga paid $180 million for OMGPOP, plus $30 million [...]
(Reuters) – Japan’s Konami Corp <9766.T> and two other game makers have joined Zynga’s new gaming network, potentially drawing players to the fledgling service that Zynga hopes will reduce its dependence on Facebook. Konami is the first publicly traded games company to join the service, which was announced last week, in a sign that Zynga [...]
March 1 (Reuters) – Zynga Inc is launching a new games service that allows users to play on the company’s website instead of Facebook, potentially driving traffic away from the world’s No. 1 social network that is its biggest partner. The service is the online game company’s boldest move yet to create a presence outside [...]
(Reuters) – Zynga Inc reported higher quarterly revenue than Wall Street expected on Tuesday as the largest publisher of games on Facebook added new users to its mobile games “Words with Friends” and “Zynga Poker.” Zynga, unveiling its first results as a public company, reported a fourth-quarter net loss of $435 million, or $1.22 cents [...]
Social game developer Zynga priced its shares on Thursday evening ahead of a Friday IPO, the largest since Google went public in 2004. The maker of hit Facebook games “CityVille” and “Mafia Wars” even trumped funds raised by the much-hyped Groupon in its Nasdaq debut. Similarly, online gaming company Nexon began trading on the Tokyo Stock [...]
NEW YORK/SAN FRANCISCO (Reuters) – Online games developer Zynga Inc scored badly as it went public on Friday, dashing hopes for the year’s hottest tech IPO, as investors frowned on its over-reliance on Facebook, dimming growth prospects, and outsized control by CEO Mark Pincus. Zynga’s stock fell 5 percent below its $10 initial public offering [...]
Zynga Inc is currently planning to price its initial public offering and have its shares begin trading the week before the U.S. Thanksgiving holiday on Nov. 24, two sources briefed on the offering said on Monday. The sources cautioned that the social gaming company’s plan has not been finalized and could change. They spoke on [...]
NEW YORK — Zynga Inc., the maker of popular online games such as “FarmVille” and “CityVille,” is being sued for patent infringement by a Texas gaming startup. Agincourt claims Zynga is violating two of its patents related to systems for redeeming prizes in games. The patents were awarded in 2001 and 2004. Zynga’s “remarkable growth [...]
LOS ANGELES (AP) — Zynga, the online game maker behind “FarmVille” and other popular Facebook pastimes, is going public, the latest in a crop of high-valued Internet IPOs expected after LinkedIn Corp. showed that the online networking craze is a hot commodity on Wall Street. Zynga Inc. hopes to raise up to $1 billion in [...]
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