Zynga's shares are now trading under $8.80, which means CEO Mark Pincus' share of the company is now worth less than $1 billion.
Pincus owns around 111 million shares of the company. When it went public, Pincus' share was worth $1.06 billion. It's now worth $979 million.
The next largest investor is Bing Gordon, who along with Kleiner Perkins Caufield & Byers owns 65 million shares.
In the past few days, shares of security company FireEye have gone absolutely bonkers, turning the company's founder into an instant billionaire. FireEye hit a high of $96 at the close of market Wednesday, though they are dropping today, down to about $92 at the time of publication. Shares were up incredible 377% over its IPO price of $20 from just six months ago, in September.
Facebook is now 10 years old. Facebook's stock hit a new high today of $61 per share. At $61 a share, Facebook is worth $150 billion. Facebook has likely reached the $150 billion mark faster than any company in history. (A couple of companies may have done this in the dotcom boom, but they weren't worth that much for long).
Arista Networks, a company in the networking industry that just filed paperwork for an IPO , is worth watching. Arista was founded in 2005 and has been gaining momentum since 2008, when it lured away one of Cisco's top engineers, Jayshree Ullal, to be its CEO. Prior to Arista, Ullal ran Cisco's bread-and-butter routing, switching business, leading it to $10 billion in annual revenue.
Bill Gates has been the richest man in the world for 15 out of the last 20 years. Even though he's given an astounding $38 billion to his charitable foundation , he keeps getting richer every year. As of March 2014, Gates is worth $76 billion, according to Forbes' annual list of billionaires. That's $9 billion more than a year ago and $4 billion more than six months ago.
This has been a year for failures. HealthCare.gov, the Facebook Phone, Microsoft’s bailout of Nokia, and the abortive sale of BlackBerry were just exclamation points on a year that saw the economy slowly turn around. Some companies succeeded wildly, and others…well, not so much.
Enterprise cloud storage company Box has filed the paperwork for its long-expected IPO, and the big surprise is how much of the company the co-founders have already sold off. For instance, co-founder and CEO, Aaron Levie, a rising star in Silicon Valley, only owns about 4% of the company, with 3,764,285 shares.
Words With Friends game maker Zynga announced that it is acquiring U.K.-based gaming company NaturalMotion for $527 million in cash and equity. The company also announced that it would be laying off about 15% of its workforce — that comes out to roughly 314 employees.
Mobile Insights is a daily newsletter from BI Intelligence delivered first thing every morning exclusively to BI Intelligence subscribers. Sign up for a free trial of BI Intelligence today.Over Three-Fourths Of Pinterest Usage Comes From Mobile (All Things Digital)Pinterest revealed it is raising a Series E round of funding worth $225 million, to bring its total funding to $564 million since 2010.
The CrunchBase dataset has now captured more venture exits than ever, so we decided to take a closer look at what successful startups can tell us about venture investing and the startup landscape.
We found that the average successful US startup has raised $41 million and exited at $242.9 million.
David DeWalt, told Business Insider that this was like an IPO for ."Today was a proud moment for Kevin Mandia. It was a chance for our Mandiant asset to go IPO," DeWalt said.DeWalt also shared a fun fact about FireEye and Mandiant: both companies were founded on the same day in 2004.
Paired with the news of a big half-billion-dollar acquisition , Zynga is also laying off about 15 percent of its workforce, or about 314 employees. This is part of a cost-reduction plan that is supposed to generate $33 million to $35 million in savings this year, excluding a $15 million to $17 million restructuring charge.
Zynga has long been famous (or infamous?) for its data-driven approach to game design. The company never focused on building strong character IP, or intellectual property, in favor of releasing games that had been thoroughly funnel-tested. But now that founding CEO Mark Pincus has stepped aside and let Xbox executive Don Mattrick take the reins, perhaps the company is going in a totally new direction.
Zynga broke a lot of hearts when it announced it would be shutting down YoVille , a virtual world online game that’s been running since 2008. The game’s players have been building their simulated communities for many years now, but they only have until March to say goodbye. Unless, that is, YoVille’s original creator and his new game studio have their way.
Gaming giant Zynga has started to accept the cryptocurrency as a payment option for those buying tokens for virtual goods on the web versions of FarmVille 2, CastleVille, ChefVille, CoasterVille, Hidden Chronicles, Hidden Shadows and CityVille. It makes Zynga the first major gaming company to accept Bitcoin. Zynga posted the news first on Reddit rather than release an official announcement.
In a rather ironic turn of events, game maker Zynga acquired gaming company NaturalMotion for a whooping amount of $527 million. And then on the same day, it also let go 314 employees, around 15 percent of its entire roster.
Social gaming firm Zynga today plunged 12 percent in regular trading, following a warning bySterne Agee’s Arvind Bhatia , whichindicated that the market’s fourth-quarter consensus may be too optimistic.
IPO activity on Wall Street is heating back up. This week saw King — the maker of the addictive game Candy Crush — go public, only to see its stock tank three straight days in a row. Also this week we got the S-1 filing from Box, which makes a cloud-based file system, and though the company is a phenomenon, it's bleeding an unholy amount of cash . Still! The IPO window is open.