Industry Profile
Zynga is a San Francisco based company and was founded in 2007 by CEO Mark Pincus, who named the company Zynga in reference to his late dog Zinga. The company currently has over 1000 employees, and its headquarters is still based in San Francisco.
Zynga found an innovative way to put gaming at the hands of people. These games are accessed through their websites online, mobile devices or through social media outlets such as Facebook. This allows Zynga to be involved in two markets; social media and gaming industries (Yahoo Finance, Profile 1).
Zynga Inc.
The company was once known as Zynga Game Networks Inc. but changed their name to Zynga Inc. in November 2010 after they starting taking on advertisement …show more content…
Zynga’s current price per stock is $2.14. Although this price for stock is considerably low, they have actually seen a 7% inflation since their previous close (Yahoo Finance, Profile 1). This is great news for the company seeing as how their stock prices were previously declining and are still not too great at $2.14 per stock. Over 60% of revenue for Zynga is generated from within the United States, while their games are played in over 175 countries (Hoovers, Competition 1).
Just recently Zynga announced that they plan on selling their headquarters building in San Francisco by the end of this quarter, and will just lease space from the future owner. During Zynga’s peak in 2012, they employed over 3,000 people, but because of their decline in business they had to do layoffs in May and brought the number of employees down to about 1,600. I hefty cut if I must say so myself (Haggin, …show more content…
The games that they are known for are Slots, Words With Friends, Zynga Poker and FarmVille. These games are accessible on mobile devices as well as social media outlets such as Facebook, who they previously had a partnership with. Zynga produces, markets and operates all of their games, themselves (New York Times, Business 1).
Online Gambling
Zynga was previously known for the above games, but has now entered the online gambling industry and those are the games that they are now producing. These games are now bringing in more revenue for them compared to Words with Friends and FarmVille (Reuters, Finance 1).
Virtual Currency & Goods
Zynga also sells virtual currency that can be used to buy in-game goods and services as well as mobile games. This is the primary income for them as a business as of right now. An example of this would be selling a virtual tractor to help tend to the virtual farm in FarmVille (New York Times, Business