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GAMING NEWS

Zynga Gives Away Stock To Retain Employees

Posted on Friday, August 10 @ 16:12:31 Eastern by


According to a source on Bloomberg, Zynga has attempted to prevent an exodus of full-time employees by essentially giving away equity grants for the first time. This was done while the company reported a net loss of $22.8 million for its second quarter.

Since its initial public offering in December, Zynga's stock has dropped 71 percent and has dropped once more today, closing at $2.95.

This is just another blow in a long series of bad news for Zynga, which was hit with an insider trading lawsuit alleging that Zynga executives paid off underwriters, another lawsuit by EA claiming that Zynga's The Ville copied too much from the The Sims Social, and Zynga's COO John Schappert resigning just two days ago.

[Source/Via]
Tags:   Zynga


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Comments
  • De-Ting
    De-Ting

    Joined: Nov 2006
    Posted: Aug 10th, 2012 at 7:08 pm
    Kill it with fire.
  • Sebastian_Moss
    Sebastian_Moss

    Joined: Apr 2011
    Posted: Aug 10th, 2012 at 8:24 pm
    "Hey guys, I know our company is falling apart, but how about some stock in this dying company?"
  • UpAndAtThem
    UpAndAtThem

    Joined: Mar 2009
    Posted: Aug 11th, 2012 at 6:23 am
    Wow, who would have thought that a severely dumbed-down rip-off of Harvest Moon loaded with micro-transactions would lose it's popularity?
  • OdiousLupous
    OdiousLupous

    Joined: Jul 2011
    Posted: Aug 11th, 2012 at 8:19 am
    The worm has turned...

    ...if you wish to reset the worms direction please send $9.95 by way of a Zynga secure payment.
  • Icepick
    Icepick

    Joined: Dec 2002
    Posted: Aug 11th, 2012 at 4:03 pm
    reminds me of the simpsons episode were bart made an online comic. "sorry Bart the stock's hit 0" "what's 1000 shares of the stock worth then, and don't tell me 0!"
  • oblivion437
    oblivion437

    Joined: Nov 2006
    Posted: Aug 13th, 2012 at 2:04 pm
    I thought of the same damn episode...to placate him the boss of the company says, 'help yourself to some more stock!'

    There's a great article on cracked about this...those employees should be jumping ship pronto.
  • pennpsu
    pennpsu

    Joined: Sep 2010
    Posted: Aug 11th, 2012 at 8:55 pm
    This, after the company's officers dumped their stock before the public had knowledge of the losses Zynga had amassed. What a slap in the face. "we sold all of our stock for $12.00/share, but now all of you all can have some shares at 2.90/PPS. So if you all work really hard, your equity might be worth something...someday.....maybe".

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