Zynga founder Mark Pincus, who made FarmVille a hit game on Facebook and then failed to come up with titles for mobile devices, stepped down from an operational role at the company he started seven years ago.
By Douglas MacMillan April 22 (Bloomberg BusinessWeek) -- ? "The next three years are a hell of a lot harder than the last three" More than 120 million people play Zynga's online games. Employee headcount has almost quadrupled in the past year, to 775. Revenue for the three-year-old company should surpass $450 million in 2010, according to two people who have been briefed on its financials. Mind you, Zynga's games are free. Revenue mostly comes from
Zynga Inc. merger chief Barry Cottle plans to step up the pace of acquisitions, spending hundreds of millions of dollars in search of a new social-gaming blockbuster on par with hits “FarmVille” and “CityVille.”
Zynga Inc.’s operations are getting the least credit in public markets among Internet media companies, and management’s refusal to consider a sale as growth slows is blocking an avenue for shareholders to recoup losses.