Mark Pincus, the founder of Zynga Inc (NASDAQ:ZNGA), speaking at a Garage Geeks event in Tel Aviv said that, at present, he is bored with all games and is longing for the same level of addiction he used to feel with Farmville, according to The Wall Street Journal. Pincus was questioned by the long-time member of the country’s venture funding scene Yossi Vardi about his favorite game, to which he answered “Right now, I’m pretty bored with all games.”
He said that he wants some game to capture his attention, “I want that addiction again.”
Turnaround plans of the new CEO
CEO Don Mattrick, who replaced Mark Pincus, showed the door to three executives of Zynga in August, in a bid to reshuffle the organization to revive the company from loss, a shrinking consumer base and uninteresting games.
At this year's SALT New York conference, Jean Hynes, the CEO of Wellington Management, took to the stage to discuss the role of active management in today's investment environment. Hynes succeeded Brendan Swords as the CEO of Wellington at the end of June after nearly 30 years at the firm. Wellington is one of the Read More
Don Mattrick, since holding the position as the CEO, is constantly working on plans to revive the company from the lows. He is looking forward to reshuffle the entire business of Zynga Inc (NASDAQ:ZNGA) along with games, improving their quality.
Mattrick, in his first earnings call as CEO, said, “I’m also going to use the next 90 days to assess and reset our product pipeline.” As a part of the turnaround, Mattrick is keen to do away with those games that are not earning enough margins. Mobile gaming takes the first place in his string of priorities, something that the company expressed previously, but could not deliver anything impressive on.
Mattrick, however, feels that the situation will be volatile over the next two to three months, and the declining numbers will continue for some time. The CEO said that two to four quarters will be required to develop and implement the strategy to enhance topline revenue and growth.
Zynga officially out of real money gaming in Nevada
Earlier this week, Zynga Inc (NASDAQ:ZNGA) officially pulled out of real money gaming by withdrawing the license from Nevada.
Last year, Zynga was all excited to foray into real money gaming and applied for the license in December for digital casino and social games with cash payout to consumers. CEO Don Mattrick feels that it should focus more on free play social games. Zynga is running its test on real money gaming products in the United Kingdom, but is not looking to pursue a license for real money gaming in the United States.
Zynga Inc (NASDAQ:ZNGA) is further expecting a drop in the bookings in the third quarter of 2013 due to older games that are outdated, and slow penetration in mobile games.