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Zynga (ZNGA) Loses Two More Execs — Bloomberg

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By Douglas A. McIntyre Updated Published
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Zynga
Embattled online game firm Zynga (NASDAQ: ZNGA), its stock down over 80% this year, and its business prospects in question, lost two more senior executives today, according to Bloomberg:

Zynga Inc. vice presidents Bill Mooney and Brian Birtwistle have departed, following other top managers amid slowing sales and a stock decline at the biggest maker of social games on Facebook Inc.

Mike Verdu who was the company’s creative officer left earlier this month

Zynga shares trade at $2.88, very near their low of $2.66. The company, which went public recently, has a 52-week high price of $15.91.

Zynga’s future has been questioned because of its extreme reliance on Facebook (NASDAQ: FB), a dependence it has not been able to break in any significant way. In the meantime, social games have proliferated across the internet–both games which work on social networks, and those which work on portable electronics devices. Zynga makes money by charging for consumers to play at certain levels on its games. Many of its competitors offer most, if not all of their products for free.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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