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(Gamasutra)   Zynga stock doing so poorly company considering applying for farm disaster assistance   ( gamasutra.com) divider line
    More: Interesting, Wall St, Zynga, Words With Friends, game companies, disasters  
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6950 clicks; posted to Business » on 16 Oct 2012 at 11:31 AM (5 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

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2012-10-16 01:22:46 PM  
3 votes:
These days, I'm quite suspicious of any company that has an IPO that wasn't forced upon them (for example, Google went public because there's a rule if you give more than a certain number of employees stock options you are forced to go public, not because they actually needed the IPO cash).

That is, compare Zynga to Valve. Valve is a private company, mostly owned by one guy. But they are printing money via their actual business, and since they are printing money, they don't need IPO cash. Zynga only printed money by hyping up their IPO, not because their actual business was profitable.

Groupon is another example of this sort of "hype the company to make IPO cash as opposed to making something that sells to make cash the normal way".
2012-10-16 12:06:33 PM  
3 votes:

Tanthalas39: SuperT: their stock is now worth less than their buildings, equipment and cash.

If that's truly the case, we should buy them out.

outstanding shares are less than a controlling interest... it's a pointless stock to own... you get shares of a business that has no value, you don't actually get any input so it might get value, and you get a CEO who is pretty clearly using every outside investor as an opportunity to cash himself out. There is absolutely no upside at all to dumping money in Zynga, and if you've already invested, the best thing you can do is sell it, take your loss, learn your lesson, and walk away.
2012-10-16 11:50:49 AM  
2 votes:
Chapter 11 with Friends.
2012-10-16 11:45:32 AM  
2 votes:
I saw the CEO guy on some news show, and he acted like the most insufferable of insufferable douche bags.
I don't wish ill will on anyone, but the schadenfreude I'm feeling on this is immense.

They expanded way too quick. How does anyone in his position think this will last? You're going to build an empire... out of a stupid game app thing? Sell it to a sucker and retire. How can anyone not see that?
2012-10-16 11:44:58 AM  
2 votes:

1) IPO to much fanfare
2) Pincus sells hundreds of millions of dollars worth of stock
3) Wall St wakes up, stock price plummets
4) A year or so after the IPO, Pincus and crew buy up the outstanding shares for pennies on the dollar and take Zynga private once again

Nice trick.
2012-10-16 09:55:02 AM  
2 votes:
vpb [TotalFark]
2012-10-16 08:27:34 AM  
2 votes:
Wasn't this the company that tried to take back the stock it had given to employees in lieu of pay by threatening to fire them if they didn't give it back?
2012-10-16 05:22:50 PM  
1 vote:
One of my friends who graduated a year before me moved to California to work for Zynga. I feel sorry for him on several counts:

1. That a great, very talented artist like him was forced to stoop to the level of creating clip-art for Facebook "games"
2. That he works for a company that has no interest in the well-being of its employees

While I care about my friend, I wouldn't lose sleep over Zynga being obliterated. They are everything that's wrong with games. Here's everything that games should be. Oh, wait, that isn't as profitable as the next Call of Final Modern Fantasy Battlefield: Gears of Duty 19
2012-10-16 01:57:31 PM  
1 vote:

Gordon Bennett: Jelly and ice cream as Zynga dies.

Darmok and Jalad at Tanagra.
2012-10-16 01:43:49 PM  
1 vote:

DaCaptain19: I don't even by single stocks anymore...single-person or HHLD "investors" are a joke to Wall St. - all the power in determining stock price are the institutional investors that own millions of shares.

Yeah... when I was in the markets, my strategy was pretty much to piggyback the big players moves. Anything else you would get eaten alive by HFT machines etc.
2012-10-16 01:39:29 PM  
1 vote:
Every Zynga game ever:

wireheading.comView Full Size
2012-10-16 12:10:06 PM  
1 vote:

Ivo Shandor: Fark didn't like the link, but it's worth reading (copy/paste, remove spaces):

http://www.forbes.com/sites/insertcoin/2012/08/08/a-photo-retrospecti v e-of-the-games-developers-claim-zynga-has-cloned/

lulz, but I was assured by TFA that Zynga does nothing like the rest of the gaming industry.
2012-10-16 12:03:22 PM  
1 vote:
I'm just glad the company is not Too Big To Fail so the taxpayers are not obligated to bail them out.
2012-10-16 11:50:41 AM  
1 vote:

arcas: So....

1) IPO to much fanfare
2) Pincus sells hundreds of millions of dollars worth of stock
3) Wall St wakes up, stock price plummets
4) A year or so after the IPO, Pincus and crew buy up the outstanding shares for pennies on the dollar and take Zynga private once again

Nice trick.

Basically that, but it was known in the IPO that Pincus would have the option to sell right away... anyone who actually did their homework and saw how he managed the support.com IPO into the ground would have known better than to buy any shares of Zynga. All he was doing was correcting the mistakes that cost him money the first go around, other than that, the gameplan was exactly the same.

/stupid investors lost their money
//welcome to the stock market.
2012-10-16 11:50:15 AM  
1 vote:
They spread themselves thin with too many bloody games. They took their existing games that are popular and made them overly full of too much crap. And seriously, they are taking advantage of crazy people who would pay $30 for a single tiny limited edition farm animal made out of pixels. Should have stuck with their core popular games on Facebook and not farked them up by making them user unfriendly and convoluted.

And there might be riots among the elderly if they do what Meteor games did with their Facebook games : simply stopped updating, then turned the servers off several months later while still taking cash payments for premium items in the games right to the last minute.
2012-10-16 11:49:26 AM  
1 vote:
I never understood why people loved Farmville so much. What's the thrill in harvesting a crop or tending to a farm? Well, I gotta stop farkin' so I can go play Guild Wars 2... I have some ore to mine, trees to chop, and vegetables to gather....

guides.gamepressure.comView Full Size
2012-10-16 11:48:13 AM  
1 vote:
Let them run real money online poker in the US.

/no ??? just profit
//oh please please please
2012-10-16 11:43:29 AM  
1 vote:
Also, die Zynga die.
2012-10-16 11:42:35 AM  
1 vote:
You mean, people PAY for games on phones? Now that is funny.

Pay to remove adds?
Pay to get unlocks?
Pay out the nose to play a game that lasts all of an hour?
2012-10-16 11:39:24 AM  
1 vote:
I always sort of wondered how they became so successful in the first place. I thought their games were fairly uncompelling.
2012-10-16 11:35:49 AM  
1 vote:
demotivatingposters.comView Full Size
2012-10-16 11:32:06 AM  
1 vote:
What do you expect of a company that releases amusing games and then "fixes" them every day until they're broken.
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