Hristina Beeva

Zynga Inc. (NASDAQ:ZNGA) Keeps Shedding Top Executives

by Hristina Beeva September 11, 2012
Zynga Inc. (NASDAQ:ZNGA, ZNGA message board) may be producing addictive games that make users stick around, but it can't seem to make its top managers stick around. The online social gaming company is now left without Jeff Carp, its chief marketing and chief revenue officer. ZYnga_911.png

The exodus started in August with Chief Operating Officer John Schappert, and shortly after creative officer Mike Verdu left to bring a new startup to life.

Carp will not be replaced and his teams will be moved to other divisions in the company. He will receive a small severance pay worth his three months' salary and Zynga will accelerate the vesting of his 1000 000 stocks.

The gaming company trades in relative stability, at 72 percent below its IPO value. The stock fell 6 cents to $2.82 on Monday.

Internet startups continue to attract venture capital, although large IPOs are still incapable of instilling market-wide confidence. So far only LinkedIn Corp. (NYSE:LNKD) trades above its initial pricing, at $117.80 after yesterday's fall of 1 percent or $1.24.

One of the reasons for Zynga's decline is that more and more games are played on mobile devices, while FarmVille, Mafia Wars and others ruled the market in personal computers.
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ZNGA Backtested Performance
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