According to London’s Daily Telegraph, citing a source familiar with the matter as saying, King.com, the London based maker of Candy Crush Saga has filed for an initial public offering with the Securities and Exchange Commission. The IPO aims to raise $5 billion. The year has been devoid of tech-related IPOs. According to a data provider, Dealogic, only one in six IPOs this year have been tech-related. The slowdown in tech-related IPOs is mainly due to Facebook’s (NASDAQ: FB) dud debut and drubbing of Zynga Inc. (NASDAQ: ZNGA) after its IPO in December 2011.
Tag: ZNGA
Zynga Abandons Plans to Create Real Money Gaming Business in U.S.; Shares Tumble in After Hours Trading (ZNGA)
Shares of Zynga Inc. (NASDAQ: ZNGA) tumbled in afterhours trading on Thursday after the social gaming company said that it will drop its plan to create a real-money gaming business in the U.S. The company also reported its financial results for the second quarter.
Zynga Launches Beta Version of New Action Strategy Game “Dojo Mojo”
Social gaming company, Zynga Inc. (NASDAQ: ZNGA) launched its second action strategy game, “Dojo Mojo” on Facebook (NASDAQ: FB) last week. “Dojo Mojo”, the second largest action strategy game after “Empires & Allies”, is currently available in its beta version.
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Major Movers on July 2; CLNT, ACHN, SHLM, ZNGA, CLDX
Shares of Cleantech Solutions Inc. (NASDAQ: CLNT) skyrocketed 26% in early trade. The Company provided upbeat guidance for the fiscal 2013. Based on current orders and anticipated orders, Cleantech expects net income to be in the range of $8 million to $8.5 million on revenue range of $60 million to $62 million.
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Don Mattrick to Replace Pincus as Zynga’s New Chief Executive Officer (ZNGA)
Embattled online social gaming services provider, Zynga Inc. (NASDAQ: ZNGA) announced on Monday that Don Mattrick will serve as its both new Chief Executive Officer and a member of the board directors , effective July 8 2013. Continue reading Don Mattrick to Replace Pincus as Zynga’s New Chief Executive Officer (ZNGA)
Major Movers on June 21; ZNGA, ORCL, KMX, DRI, THRX
Shares of Zynga Inc. (NASDAQ: ZNGA) plunged about 4.65% by afternoon trade. Morgan Stanley’s analyst Scott Devitt downgraded the social game maker’s stock to “underweight” from “overweight”. The research reports said that the popularity of its titles such as “FarmVille” “Poker” was fading fast as the competition was rising, adding that Zynga still relies far too heavily on Facebook Inc (NASDAQ: FB) to attract gamers. The research report said that company’s transition towards mobile gaming business will take some more time. Devitt thinks that Zynga might also slash more jobs in the futures, citing that it still employs more than required staff, which is weighing on EBITDA margin, the report added.
Continue reading Major Movers on June 21; ZNGA, ORCL, KMX, DRI, THRX
Zynga Shares Downgraded by Morgan Stanley (ZNGA)
Social games developer, Zynga Inc. (NASDAQ: ZNGA) was downgraded to “underweight” from “equalweight” by Morgan Stanley on Friday.
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Zynga Expects Wider Q2 Loss, To Slash 520 More Jobs (ZNGA)
Social game maker, Zynga Inc. (NASDAQ: ZNGA) announced on Monday that it will slash another 520 jobs or about 18% of its total workforce as the embattled company looks to cut costs and bring a strategic shift by focusing more on mobile games.
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Zynga Move towards ‘Midcore’ Combative Games (ZNGA)
Social game maker, Zynga Inc. (NASDAQ: ZNGA), which is reeling under pressure due to shrinking active users’ base and flagging revenue amid rising competition, is focusing on ‘midcore’ combative games, in order to increase its mobile time share.
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Jana Partners Discloses Stake in Groupon and Zynga (GRPN, ZNGA)
Jana Partners, one of the leading activist hedge funds, managed by Barry Rosenstein, revealed on Wednesday that it holds stake in Groupon Inc. (NASDAQ: GRPN) and Zynga Inc. (NASDAQ: ZNGA).
Continue reading Jana Partners Discloses Stake in Groupon and Zynga (GRPN, ZNGA)