![]() ![]() Schappert was one of the executives named in the suit, having sold $3.9 million worth of stock. If it was related to Schappert's performance, Zynga surely knew about that when it released its numbers.īut Zynga might not have expected such a large drop in its stock price, or the resulting insider trading suit. The timing was odd, as such shifts would ordinarily be made alongside the earnings. The second hit came just days later, when an investor filed a class-action suit accusing Zynga executives of insider trading, saying they knew the company's outlook was going to take a hit when they unloaded hundreds of millions of dollars of stock earlier in the year.įinally, Zynga ended July by demoting chief operating officer John Schappert. Not even the earnings call news that the company was getting into real-money gambling could spark optimism around its financial fortunes. So when Zynga's second financial report since its IPO fell far short of expectations, a sell-off of company stock dropped the price below $3.33, less than one-third of what it initially traded for the previous December. This industry will forgive a lot if you're making money – hello, Activision Blizzard board of directors – but no profit margin means no margin for error. But the sentiment around the company got notably worse starting with a handful of developments in the last week of July.įirst (and, if we're being honest, foremost), the company stumbled financially. It was already in a precarious spot, suffering from a deflating Facebook social gaming bubble and struggling to build up much of a presence in mobile gaming to offset those losses. Dre-inspired virtual items and stream a music video.This year, Lady Gaga released new songs on "FarmVille.Zynga always had its detractors, being a poster child for the social gaming boom that some traditional developers and players found derivative, exploitive, or just plain evil.īut a decade ago, the social gaming giant had become a punching bag for essentially anyone and everyone. Zynga's first musician tie-in was in 2010, when "Mafia Wars" players could unlock Dr. "But every day it's becoming more and more about the artist dealing directly with the fans." "For me personally (record labels) are still essential," he said. Iglesias said it was important to interact with fans, especially younger ones, in new ways especially with the problems facing recording companies. The virtual arena will stay in their cities even after the Iglesias promotion ends on Oct. In addition to the Iglesias avatar and special items, the game will feature a new single featuring rapper Pitbull, "I Like How It Feels." Players will also be able to unlock a building called "Euphoria Arena" - referring to Iglesias' current tour and album. According to research firm AppData, "CityVille" has more than 71 million monthly users, compared with more than 62 million for "The Sims Social." Facebook, meanwhile, has more than 800 million monthly users worldwide. ![]() "CityVille" players have made the game the most popular application on Facebook, ahead of a social version of "The Sims" from Electronic Arts. ![]() "I know that if I start playing it, I won't get any work done and I'd just be on it all the time," he said. He has an addictive personality and, since being inseparable from Nintendo's "Mario Bros." as a child, has stayed away from video games, he said. Iglesias said he has played "CityVille" - once. "It's the first time Zynga has had such an entertainer being an integral part of the game," said Scott Koenigsberg, director of business strategy for "CityVille at Zynga. ![]()
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