Mafia Wars Shakedown – Pulled from app stores Indiana Jones Adventure World – Closed to new players, shuts down January 14th Now the hammer has dropped on eleven of these games. Keeping them alive spread engineers, designers, and product teams too thin and cost money Zynga can’t afford anymore. Those that weren’t shut down or pulled from the app store already no longer accept new sign ups and will stop altogether next month.
To get the company back on track, Zynga announced a deep set of cost-cutting measures, including laying off over 100 employees, closing offices, ceasing to renew deals with contractors, shutting down 13 titles, and significantly reducing investment in The Sims-style game The Ville. Zynga’s share price is down 3.52 percent to $2.33 from its $10 IPO price a year ago.
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Investors feared it had become bloated, free virality on Facebook had been curtailed, competitors were proliferating, and the shift of Facebook users to mobile from Zynga’s stronghold on the desktop canvas would break the company. It didn’t seem like a problem when the company was preparing for a big IPO.īut Zynga’s share price got decimated over the past year. During its heyday on Facebook it built dozens of games, then aggressively launched mobile games as smartphones gained popularity. The San Francisco-based company had overextended itself. Along with layoffs, the shutdowns are part of the hard road to recovery for Zynga. The gaming giant will reallocate resources to more successful titles as well as creating new ones. Executing the cost-reduction plan CEO Mark Pincus announced in November, Zynga has shut down, pulled from the app stores, or stopped accepting new players to 11 games, with some turning off today.
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