Zynga

Zynga cuts 520 workers and shutters several offices

Hoping that further cost cuts will right its heeling ship, social-gaming company Zynga said Monday it is cutting 18 percent of its workforce and closing various offices.

Zynga posted the news on its blog. Zynga must shrink before it can grow again, CEO Mark Pincus told workers in his memo, a situation that somehow nobody at the 5-year-old company "ever expected to face."

He also said the Zynga "brothers and sisters" will be getting generous severance packages along with their "painful goodbyes."

AllThingsD reported that Zynga would shutter its offices in New York, Los … Read more

Run away from bulls on Zynga's latest 'With Friends' game

Zynga has added another "With Friends" game to its portfolio, and this time it involves running away from a stampede of bulls.

Running With Friends, a game set in Pamplona, Spain, at the annual running of the bulls, went live today for iOS. Capitalizing on the popularity of running games like Temple Run, Running With Friends -- true to Zynga form -- adds a social layer. In addition to competing with friends, players can explore a virtual Pamplona.

"We are committed to expanding Zynga's mobile portfolio to bring players the most fun, social, and accessible games … Read more

Zynga's gameplan relies on FarmVille, says CEO

Social-gaming company Zynga staked its claim with FarmVille. And now -- when Zynga has been reaping more than sowing -- the company will rely on that same title to restore its ailing operation.

In a Reuters interview published Monday, Pincus said his company is relying on FarmVille 2 to rebuild. The company's revenue jumped to $1.2 billion in 2012, but losses continue to pile up.

A key component to the turnaround plan is to give FarmVille players the same experience on mobile as on desktop.

"The ideal is to make that one seamless experience between Web and … Read more

Zynga launches Draw Something 2, kills four other games

Zynga executives say they're "doubling down on big bets," which means killing off games that won't bring in big bucks in the long run and sticking to franchises that do.

The company announced Wednesday that Draw Something 2, the sequel to the popular Draw Something mobile drawing game, goes live this evening. On the flip side, Zynga is killing off four other games: The Ville, Empires and Allies, Dream Zoo, and Zynga City on Tencent.

The new Draw Something 2 includes a social feed, where you can like or comment on drawings, and follow people. There'… Read more

Zynga revenue drops 18 percent as player base shrinks

Zynga posted a small profit in the first quarter of 2013, earning 1 cent per share and bringing in $263,589 in revenue, the company reported Wednesday.

That beats expectations, but is down 18 percent from the same period last year. Bookings brought in $230 million, which is down 30 percent from the previous year.

Some Wall Street analysts expected the company to report a loss of 4 cents per share with a revenue of $209.79 million, according to Nasdaq. The company's own expectations was a loss of 5 to 4 cents a share with revenue between $255 … Read more

Zynga CEO to earn $1 as other execs chase big bonuses

Zynga's chief executive will be paid $1 this year, the social game developer said as it revealed a new compensation plan designed to cut costs but retain top executives.

Mark Pincus requested the board lower his annual salary to $1, Zynga noted yesterday in a regulatory filing, and he won't receive any cash bonus or equity awards this year. By comparison, Pincus was paid a salary of $300,000 in 2011 and his overall compensation that year totaled $1.68 million. Zynga hasn't yet revealed salaries for 2012.

Zynga has been struggling since it went public at the end of 2011. … Read more

Zynga starts real money gambling games April 3

Here goes Zynga's first try at Lady Luck. The struggling gaming company is officially launching its U.K. gambling sites tomorrow, the company announced in a blog post today.

Zynga is starting out with two gambling brands, ZyngaPlusPoker and ZyngaPlusCasino, hosting more than 160 games. This endeavor is a partnership between Zynga and the U.K.-based poker company Bwin.Party Digital Entertainment to offer online poker and casino games for cash.

ZyngaPlusPoker is an online poker room that features games and tournaments, while ZyngaPlusCasino will have other casino-type games, including a FarmVille slots game. Players can use the … Read more

Zynga: Game over for Dan Porter

Vice President Dan Porter, former CEO of OMGPOP before it was acquired by Zynga, has left the social gaming company. Zynga called the leave a "mutual decision" and appointed another Zynga vice president, Sean Kelly, to the head the New York office. Kelly joined Zynga in 2009 and has lead teams that have worked on games like CityVille, Farmville, and Zynga Poker.

Porter's Twitter feed has been silent about his departure, but he hasn't been shy about sharing his thoughts publicly in the past. During a panel discussion earlier this month, Porter admitted that Zynga copies other people's games. … Read more

Zynga losing another executive

Zynga CIO Debra Chrapaty is jumping ship for a higher role at another company, according to AllThingsD.

Chrapaty is moving over to enterprise cloud storage business Nirvanix, where she will be promoted to chief executive officer and executive chairwoman of the board, AllThingsD reported yesterday.

San Diego-based Nirvanix is a private company producing enterprise-class cloud storage services with a particular emphasis on preventing or at least reducing downtime.

So far, Nirvanix has raised about $70 million in venture capital with help from Silicon Valley VC heavyweights such as Khosla Ventures, Intel Capital, Valhalla Partners, Mission Ventures, and Windward Ventures.

Described by some reports … Read more