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.
Fitbit shares aregetting wrecked on Friday, with shares down by as much as 11% in earlytrading. In a regulatory filing on Friday, the company put up more shares for sale — three million shares of common stock to be exact. That's down from the seven million it had initially proposed to sell. But the shares were priced at $29, which was lower than Thursday's closing price of $31.68 per share.
This story was originally sent to thousands of professionals just like you in this morning's IoT WEEKENDER newsletter. Don't be left in the dark while your competition gets ahead each morning. Learn more about our 7-day FREE trial now FITBIT’S IPO A BIG SUCCESS: On Wednesday night FitBit announced its official IPO price of $20 per share.
The return of a founder to a company is a well-worn story line in Silicon Valley, Mike Isaac reports.In Apple’s darkest hour, Steve Jobs came back, eventually turning the computer maker into the world’s most valuable corporation. In April, Mark Pincus stepped back into the chief executive role at Zynga.
Steven A. Ballmer believes in Twitter. And he looks to be putting his money where his mouth is.In a tweet sent on Thursday evening, Mr. Ballmer, the former chief executive of Microsoft, said he had acquired a 4 percent stake in Twitter, becoming one of the single-largest outside shareholders of the company.
Jack Dorsey, the chief executive of both Twitter and Square, is in a giving mood.On Thursday evening, he announced at a Twitter staff meeting and on the social network that he would donate one-third of his stake in the company — worth close to $200 million — to the employee stock compensation pool “to reinvest directly in our people.
Billionaire entrepreneur Elon Musk has loaded up SolarCity shares, just days after famed short-seller Jim Chanos disclosed he is shorting the stock. Musk, the company's chairman, spent $50 million on 123,519 shares of SolarCity at around $40.48 per share, according to a securities filing . Musk currently owns 20,805,082 shares. SolarCity closed up $3.62, or 8.83%, to end the day at $44.
Following the recent addition of its Super Like feature , Tinder has released an update for its mobile app that introduces several new refinements, including additional information on user profiles, and improved algorithms for finding matches.
"Tesla is essentially learning how to become a manufacturing company on the fly," wrote analysts at RBC Capital Markets. "While we don’t have meaningful reason to doubt Tesla can eventually get to their targets, doing so in a timely matter without some growing pains could prove challenging."The confusion is palpable.
Today Facebook begins rolling out their Dislike button - only it's not just about disliking something, this button is all about sending more emotion in your "Likes". This system takes the form of "Reactions", including a number of different icons, including one for Love, another for laughing out loud, and another for showing extreme happiness.
Although Oracle whiffed on its fourth quarter , missing expectations on both revenue and profits in the quarter that is traditionally its strongest, Oracle's management was upbeat, almost deliriously so. "We are delighted with this quarter," one of Oracle's CEOs, Safra Catz said on a quarterly conference call with analysts.
Major internet tech companies like Facebook, LinkedIn, Amazon, Yelp, and Twitter only exist because you, the user, patronize them. The folks at HowMuch.net have broken down what one person using the services of these companies is worth to that company.
In a new update to Facebook Messenger, Facebook has given users finer controllers over location sharing information. Facebook Messenger Now Shares Your Location Information Only When You Tell It To is a post from: iPhone in Canada Blog - Canada's #1 iPhone Resource
Amazon launched Amazon Handmade Thursday, a new marketplace for artisanal and handcrafted goods.That puts Amazon Handmade squarely in competition with another artisanal goods marketplace Etsy.Given Amazon’s market size, it’s a major potential threat to the $1.5 billion company that just went public in April. Amazon has roughly 285 million active customers versus Etsy’s 22 million.
Have you given much thought about split keyrings? No? Ok, me neither. But let’s do that now. The split keyring has remained virtually unchanged in decades. That is until now. The HANDGREY KNOX is the keyring reinvented. HANDGREY is currently running a crowdfunding campaign on Kickstarter and sent me one of their KNOX keyrings to try along with one of their H3 Titanium carabiners.
It doesn’t seem that long ago that I reviewed my first desktop multi-USB charger . That one had four USB ports, which of course, I quickly filled up. Today, my desk graduates to 8 USB charging ports. Here’s what you get in the box: 1 x EasyAcc 8-Port USB Desktop Charger 1 x DC 12V 5A Adapter 1 x Power Cord 1 x User Manual Size (LWH):5.51 inches, 1.06 inches, 2.76 inches Weight:8.
Oracle is using the so-called nuclear option to sell its cloud products, even for businesses that don't need them or want them.Oracle seems to be depending on aggressive sales tactics to boost revenues in its cloud computing sales, trying desperately to sever its dealings with on-premise software license sales, a complicated soup of various legal agreements tied to their products and services.
We have reached Peak Amazon, or perhaps Prime Amazon, David Streitfeld reports.The e-commerce company beloved by Wall Street for its fast-growing ways did something completely out of character in the second quarter: It made a profit.It was only $92 million, practically a rounding error for Google or Apple.
“For the first time ever,” Mark Zuckerberg, the company’s chief executive, posted on the social network, “one billion people used Facebook in a single day.”Facebook is present in nearly every aspect of people’s digital lives these days. But just a decade ago, that sort of traffic feat would have been hard for the social-networking site to even have imagined.