Microsoft Head Don Mattrick Reportedly To Join Zynga
Microsoft’s president of interactive entertainment Don Mattrick is leaving the company to join Zynga, possibly as the CEO according to AllThingsD. Mattrick may also work closely with Zynga’s founder and current CEO Mark Pincus. Pincus has a 61% voting stake in Zynga. Zynga has been highly dependent on virtual good sales on Facebook, which has made the company highly volatile. Zynga’s stock price has increased around 11.7% to $3.11.
Don Mattrick joined Microsoft in 2007 after working at Electronic Arts for several years. Mattrick is known for helping turn Microsoft’s Xbox business into a profitable division after many years of losses. The Xbox is now the number one console in the country. Microsoft is gearing up to launch the third version of the console called the Xbox One.
Prior to today’s news, Zynga’s stock was down around 70% from their IPO price in 2011. Last month, Zynga laid off around 18% of their staff.