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Latest Mark Pincus Stories

Zynga Sees Stock Plummet After Cancelling Online Gambling Plans
2013-07-28 10:03:59

redOrbit Staff & Wire Reports - Your Universe Online Zynga's announcement it would be abandoning plans to enter the online gambling business in the US had investors cashing in their chips, as shares of the Farmville developer fell 14 percent in Nasdaq trading on Friday. The San Francisco-based social network game developer saw shares close at $3.01 after early trading saw the company's stock plummet as much as 20 percent (to $2.81 per share), according to CNBC.com and Bloomberg...

Zynga CEO Replaced By Xbox Chief
2013-07-02 09:40:32

redOrbit Staff & Wire Reports - Your Universe Online Zynga founder Mark Pincus announced on Monday he is stepping down as the company's chief executive, and would turn over the reins to Don Mattrick, who currently runs Microsoft's Xbox division. In a note sent to Zynga employees, players and shareholders, Pincus said he would remain chairman and chief product officer of the company, and that he and Mattrick will jointly report to the board and establish a new executive committee to...

Social Game Maker Zynga Slashes More Than 500 Jobs To Save Money
2013-06-04 09:57:20

redOrbit Staff & Wire Reports - Your Universe Online Online social game maker Zynga Inc. announced on Monday that it is slashing 520 jobs, or about 18 percent of its workforce, and closing certain office locations as the beleaguered company seeks to cut costs. The San Francisco-based maker of games such as “FarmVille” and “Words With Friends” said it expects most of the restructuring to occur by August, and that the move will save about $70 million to $80...

2013-05-02 23:02:24

Move Comes On The Heels Of Up-And-Down First Quarter Results And New Mobile Transition Montreal, Quebec (PRWEB) May 02, 2013 DebitWay's Corporate Blog has reported that gaming company Zynga is losing users by the millions. The social gaming company has lost almost 80 million users since autumn 2012, dropping from its peak of 331 million users to just 253 million this quarter. This news arrived with the company´s quarter one result, which saw the company's value grow by one cent per...

Zynga Pulls Plug on 11 Games
2013-01-01 10:27:01

Enid Burns for redOrbit.com — Your Universe Online As 2013 begins, life in the 'Ville isn't so good. Social game publisher Zynga is implementing its cost-reduction plan, announced back in late October, and in the process shutting down 11 of its underperforming games. Three 'Ville games are part of the 11 games that were shut down in December. The full list includes PetVille, Mafia Wars 2, FishVille, Vampire Wars, Treasre Isle, Indiana Jones Adventure World, Mafia Wars Shakedown,...

Zynga Cuts Workforce And Closes Boston Studio
2012-10-24 05:03:54

redOrbit Staff & Wire Reports - Your Universe Online Zynga is laying off five percent of its workforce, shutting down its studios in Boston and Austin, sunsetting 13 older games and “significantly” reducing investments in The Ville in order to reduce costs, the company confirmed on Tuesday. The social gaming company said it is also considering closing its offices in Japan and the United Kingdom. “Earlier today we initiated a number of changes to streamline our...

2012-10-10 07:32:57

The new social games analysis tool says Zynga's user engagement has fallen 53 percent, abetted by its dominance in the declining simulation game market. HALIFAX, Oct. 10, 2012 /PRNewswire/ - Social game developer Zynga Inc. (NYSE:ZNGA) is suffering from a 53% plunge in user engagement in just under three years due largely to its focus on the declining simulation game market, says research produced by social game analytics company, dystillr Inc. An analysis of Zynga conducted by...

Zynga Shares Drop After Disappointing Earnings
2012-07-26 14:58:25

Enid Burns for redOrbit.com — Your Universe Online It seems 'Villes are not immune to the woes of the world economy. Zynga, the creator of online social games such as FarmVille and CityVille, reported a $108 million loss in net income for the first half of 2012. Shareholders began dumping stock even before the morning bell, in after-hours trading. Zynga announced its earnings Wednesday afternoon and by mid day on Thursday stocks floated just above $3, and close to $2 lower than...

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2012-07-12 06:58:08

Michael Harper for redOrbit.com - Your Universe Online In a fireside chat yesterday morning, Zynga CEO Mark Pincus said his company is still not ready to heavily invest in mobile games, saying they´ve proven web-based games–like their popular FarmVille–can be successful even if they´re bound to a desktop experience. Pincus made his comments amidst the MobileBeat 2012 conference, which is being held in San Francisco this week. As many online-based organizations look...

Zynga Unveils Farmville Sequel, New Social Gaming Network
2012-06-27 09:13:54

Zynga unveiled on Tuesday a new line up of games, including a sequel to the popular Farmville title, and announced plans to build a social network to get more people playing online games together across multiple devices. The company made the announcements during its ℠Zynga Unleashed´ press event in San Francisco. The new titles are part of Zynga´s dramatically refreshed product line, which includes a number of new games, enhancements to its gaming platform and a mobile...