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Zynga Inc (ZNGA) CEO Accepts Failure But Promises Comeback

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Don Mattrick, newly appointed CEO of Zynga Inc (NASDAQ:ZNGA), said in a statement during the company’s earnings call that he is positive for the company even though the game maker is struggling to keep hold of players and gain traction in social gaming.

Zynga Inc (ZNGA) CEO Accepts Failure But Promises Comeback

Plans to dominate Facebook again

Mattrick, who calls himself a Candy Crush fan, plans to dominate every  Zynga game on the top ten lists of Facebook Inc (NASDAQ:FB) games.

“My aspirations are 10 out of 10. It’s probably going to take us longer than four quarters to get to that, but I think it’s the long-term vision,” he said.  Out of top 10 Facebook games, three were from Zynga; Friends, Zynga Poker and FarmVille 2.

According to Mattrick, Candy Crush, at present, is the topmost app on Facebook Inc (NASDAQ:FB) and is equipped with all features of a good mobile game like quick access, fun experience and the capacity to share with friends. Zynga Inc (NASDAQ:ZNGA) needs to succeed on Facebook as 68 percent of the company’s bookings revenue came from Facebook, in the last quarter.

Mattrick admits failure

Mattrick, like other previous executives, will face a challenging task to lead Zynga Inc (NASDAQ:ZNGA) to the same popularity. During the earning call, he also accepted the failure of the company. Zynga Inc (NASDAQ:ZNGA), although performing better than expectations, had a rough quarter with revenue loss and shrinking user base.

Mattrick admitted the company failed on investors’ expectations and their own expectations, and most significantly the company has failed to fulfill its players’ expectation. However, he added that Zynga Inc (NASDAQ:ZNGA) will soon be at the top.

Why did Mattrick join Zynga?

Prior to Zynga, Don Mattrick was with Microsoft Corporation (NASDAQ:MSFT) and on being asked why he came to Zynga, Mattrick said that he liked the great advertising model of the company in emerging markets, the powerhouse of talent amongst its 2,300 employees, and a headquarters located in a vibrant community.

Don Mattrick said that the company needs to think before adopting a mobile platform and requested everyone to stay tuned as opportunities will be greater ahead when he was asked about the slow transition of Zynga Inc (NASDAQ:ZNGA) to mobile.

For the first 90 days of his tenure, Mattrick said that he is planning to get to know the company, evaluate the business, get to know the real market opportunitys to enhance product quality, see staff formation across the company, and re-evaluating the product pipeline.

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