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1 person app Harpan LLC acquired by Zynga for $42.5m

Zynga: The social gaming master
Introduction
  • Zynga, a video game developer was founded in 2007 and developed social games that run stand-alone on mobile phone platforms.
  • In 2009 Zynga launched FarmVille which had "10 million daily active users (DAU) within six weeks".
  • Its other hit games were FarmVille 2, Texas HoldEm Poker and ChefVille.
  • Zynga's business model was heavily reliant on Facebook, a relationship that was formally ended in 2013.

  • Zynga's rise to the top and drastic fall
    FACT
    Zynga started trading on NASDAQ in December 2011 under the ticker ZNGA. It was riding the tide with shares originally priced at $10, and hitting $14.50 in March 2012. However, its fortunes turned overnight with shares hitting $2.09 in 2012.

    Zynga's near death experience
    2012
  • For $180 million, Zynga got the hottest mobile app "Draw Something" but the momentum stalled.
  • With an exodus of talent including VP of engineering Neil Roseman, Zynga "stock slid nearly $5 in April, from $13.15 to $8.34".
  • Zynga shares fell 13% by 18 May, the day Facebook shares began trading.
  • Reportedly Farmville 2's launch came too late, couldn't save the company shares from sinking.

  • Zynga making its way back to the top
    09 Mar 2017
  • After 2 CEO changes, Zynga mobile games have accounted for "80% of Zynga's FY16 bookings."
  • Its key holdings Zynga Poker and Words With Friends hit record quarters which mapped a 20% and 32%, growth respectively.
  • For the first time its mobile bookings bettered gaining $150 million for in Q3 and Q4 and its cash flow "was positive for the first time in three years".

  • Zynga reviving its lost glory
    16 Mar 2017
  • Zynga, focussing on its mobile game revenue, gained strength through Zynga Poker and Wizard of Oz Slots.
  • It added muscle with strategy game Empires & Allies and CSR Racing 2 which generated $18 million in 6 months.
  • Zynga's "FY16 GAAP sales were $575 million" and it was revealed that during its Q4 period, Zynga made more mobile revenue than its competitor EA Mobile.

  • 1 person app Harpan LLC acquired by Zynga for $42.5m
    17 Mar 2017
  • Zynga acquired 4 Solitaire apps from Harpan LLC for $42.5m in cash.
  • Harpan LLC which specializes in Solitaire apps is a company which has only one employee-Tim Oswald helped by his brother William Oswald.
  • Solitaire is one of the most popular games on the iOS download charts.
  • With this acquisition, Zynga hopes to turnaround its revenues that suffered a $108 million loss last year.



  • This post first appeared on NewsBytes: Latest News, Breaking News India, Today News, Current News, please read the originial post: here

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    1 person app Harpan LLC acquired by Zynga for $42.5m

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