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.
Share buybacks are a common tactic large companies employ to boost their share price. The company buys back shares sold on the market, reducing the total number of shares available, thus boosting each outstanding share's price.A big part of Yahoo's value has been tied up to its ownership in Alibaba shares, the giant Chinese e-commerce site that had the largest IPO in the US last year.
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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.
MOUNTAIN VIEW, Calif. — Early this year, Google unveiled renderings of several clear, tent-like buildings that would replace its current Silicon Valley headquarters, known as the “Googleplex.” Renderings may be about as far as the idea is likely to go.
High school is teenage tribalism, which is why the Lip Service kids aren't going to hang with the Forever 21 set in the lunch hall. Now, however,Hot Topichas realized that it's got plenty in common withThinkGeek, and has decided to swallow the niche retailer in a deal worth $122 million.
Facebook's top product person has displaced the top sales person in the company's ranking of its highest paid executives.Chris Cox, Facebook's chief product officer, made his debut appearance on the company's proxy statement today, with a total 2014 compensation package worth $12.47 million.
The retirement accounts of millions of Americans have long contained shares of stalwart companies like General Electric, Ford and Coca-Cola. Today, they are likely to include riskier private stocks from Silicon Valley start-ups like Uber, Airbnb and Pinterest, David Gelles and Conor Dougherty report.Big money managers including Fidelity Investments, T.
Investors are snatching up shares of Aruba Networks thanks to a report that it's in the final lap of negotiations to be acquired by HP. Aruba is up about 20% Wednesday afternoon. Prior to the gold rush for the stock, Aruba had a market cap of about $2 billion, and now it's about $2.5 billion. Aruba makes equipment for enterprise WiFi networks.
The Zuckerbergs' money will go towards buying equipment and technology for the new hospital, which is set to open by the end of 2015. It's being built on the site of the old hospital, whose structure doesn't meet earthquake-safe standards.Chan is a pediatric resident at UCSF and has worked alongside doctors at San Francisco General. The hospital is currently the only trauma center in the city.
Back in December word was making the rounds that BT was looking into the possibility of purchasing another UK mobile carrier called EE. That purchase has now become a sure thing as BT has agreed to definitive terms for the purchase of EE. BT will plunk down 12.5 billion to make the deal happen and combine the two companies into one of the largest wireless providers in the UK.
Not all the news is gloomy today ; shares in Apple reached an all-time new high today on analysts at Argus raised their price target to $135 per share with a "buy" rating. The share price peaked at 120.00 at one point this morning, and is currently wavering around the $119 mark.
Dave Goldberg is half of one of Silicon Valley's most powerful couples. He's the CEO of uber successful Valley company SurveyMonkey, with an epic career that began in the Internet bubble days. And he's married to Sheryl Sandberg, the COO of Facebook. By any measure, Goldberg has a fantastic life.
Morgan Stanley isn't crazy about Tinder, the dating app that allows users to approve or reject potential mates by swiping left or right. And a big reason why is that the app's user base is young people, and young people don't like paying for dating apps.
Anyone who signed up got a unique link to share with other users.The ten people with the most referrals got 10,000 shares and the number one referrer got 100,000 shares of stock. That's the same amount Jet has given some of its earliest high-level employees.
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.
Revenues totaled $69.6 million, up from $33.5 million for the same period last year.In after hours trade on Tuesday, shares of Lending Club were down as much as 12%.For the fiscal-year 2015, the company forecast revenues in the range of $370 million to $380 million, with adjusted EBITDA expected to total $33 million to $42 million.
Business collaboration app Box saw its shares plunge as much as 17% after hours following its first-ever earnings report on Wednesday. At first, it looked like Box had missed on earnings. Wall Street estimated an non-GAAP loss of $1.17 per share, while Box reported negative $1.65 per share. But it turns out Wall Street analysts counted the wrong number of shares.