Showing posts with label Zynga. Show all posts
Showing posts with label Zynga. Show all posts
Disappointing year for acclaimed Internet stocks
Such is a clear vote of no confidence: As the first reports surfaced about a possible replacement of the founder and head of the bargain portal Groupon, Andrew Mason, the stock went straight into the air. Hardly a day later, the company declared that Mason still remain at the top, of course put it back into reverse.
The nerves of investors are on edge. And that's understandable: The share of the coupon specialist Groupon lost since going public a year ago, more than 80 percent of their value. She has since upped the ante again though a few dollars on the recent low of $ 2.60 - but the initial rates of about $ 25 still seems at an unreachable distance. And the former Star Market potential and according to Forbes "fastest growing companies of all time."
Weak numbers doubt the business model and a crash course as a result, Groupon is by far not an isolated case. Many other at first highly acclaimed Internet stocks investors bestowed lousy business. In online game developer Zynga, the balance of the first year on the stock market falls with a drop of three-quarters of equally devastating. In this way down there were some price falls of 20 or even 40 percent on a day when, once again, a loss has been reported.
Draw on Monday Asha
The Finnish mobile phone giant Nokia brings in its partnership with the U.S. games provider Zynga the very popular painting game "Draw Something" and "Zynga Poker" on its touch phones the Asha family. In the course of the third quarter to the games for free in the Ovi Store will be available, the company said. This follows Nokia's strategy to make popular smartphone applications and social web features to middle-class devices with Series 40 platform to available.
The Asha phones are designed for emerging markets in developing countries and to make social media applications such as Facebook, or just games available on simpler and affordable mobile phones. The Finns work for it already working with game companies such as EA, Gameloft and Namco Bandai. Rovio had to introduce the family already contributed its popular Angry Birds for the Asha-Touch family.
In March, Zynga had taken the developer of the former Germany in popular TV show "The Monday Painters" and similar time-guessing game "Draw Something" for approximately 200 million U.S. dollars (160 million euros). The number of users of the game have since fallen sharply, however, the assumption is true rather than false-than as liberation. Zynga's IPO in 2011, but recorded a billion dollars, but the stock has since been under heavy pressure and fell since IPO of 10 at the moment, only about $ 3.
Zynga is using Facebook games like "FarmVille" grown up and wants to expand its business model to other platforms, as more and more users migrate from PC to smartphones and tablets. Also works on its own platform developers. During the expansion, the company is doing badly, however. After a weak quarter with a loss of 23 million dollars (18.6 million euros) was the chief product replaced and eventually had to resign.
Top manager leaves Zynga
After disappointing financial results is one of the top managers of the game provider Zynga. For the daily operations of the responsible Chief Operating Officer John Schappert has left the company on Wednesday, Zynga announced in a stock exchange release. Zynga stressed, however, Schappert go as a "friend of the company." The company wish him well.
Zynga Zynga was recently shocked investors with such a bad quarter figures show that the already badly battered shares plummeted at one stroke by 40 percent. The game developers had lost in the last quarter, almost 23 million dollars and also slashed forecast for the year. Founder and CEO Mark Pincus said to have been cut a week ago, the powers of Schappert.
Zynga Schappert had recruited a lot of money from the industry giant Electronic Arts. Zynga offers, especially when online social network Facebook popular games such as Farmville or Cityville. The company does provide that more and more users migrate from computer to mobile devices like smartphones and tablets.
Subscribe to:
Posts (Atom)