Mike Verdu, Chief Creative Officer of Zynga Inc (NASDAQ:ZNGA), the
company which gave us Farmville, has quit the company. He had led the company’s creative projects
for three years. His blog post reads -"Being at Zynga in the early days
reminded me of how much I love being an entrepreneur.
After a lot of soul-searching, I have
decided to go back to my roots and start a new company." He has also
expressed his gratitude to Zynga CEO, Mark Pincus for his “leadership, friendship
and unwavering support”.
Can ZNGA Recover After The Recent Turmoil? Find Out Here
According to Reuters, sources have
said that Verdu plans to set up a mobile gaming company. Pincus has even promised to invest in the new
venture. But Verdu’s exit at this juncture is not helping Zynga which has seen
another higher rung executive quit in recent times.
COO John Schappert had put in his papers just
three weeks earlier. There have been
unconfirmed reports that several other executives have also left.
Zynga’s problems however are not limited to
these high profile resignations. The
social game maker has been in a downtrend for a few months now. Lower revenue growth has led to a steep fall
in its stock price. Yesterday, it closed
at $3.08, way below its December 2011 IPO price of $10.
The dismal performance in the second quarter
has been attributed to sudden changes in Facebook’s algorithm which has proved
detrimental to Zynga. The other cause is
of its own making- a long delay in coming up with new titles.
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