Zynga Is Sitting On $1.8 Billion In Cash
Zynga recently went public and now they are sitting on a cash pile of $1.8 billion. Zynga CEO Mark Pincus and M&A chief Barry Cottle told Bloomberg that they are looking for the next OMGPOP and they plan to do several big deals of the next few years.
“We love finding great, accomplished teams that share our mission and vision,” said Pincus. “If we ever see breakout opportunities that massively accelerate social gaming at Zynga, we’ll aggressively pursue those, too.”
Cottle was poached from Electronic Arts where he helped the company reach a deal for Playfish. Zynga hired Cottle for $25 million. Zynga has been doing very well integrating teams that have been picked up through acquisitions. To convince startups that Zynga is a friendly place to work, Zynga CEO Pincus is usually dispatched in order to help shake off their “evil” image.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry