Zynga CEO Mark Pincus announced that the company is going to no longer accept new players for 11 games The company will be moving resources going into those games into more successful games. Pincus has been aiming to cut costs for months. The company laid off many employees back in October.
Before Zynga went public, the company was doing very well in developing games on Facebook and smartphones. However the company’s stock dropped hard as analysts feared that the company was too dependent on Facebook without much diversification on other platforms. Especially as Facebook users started shifting more towards using the social network’s mobile app. Zynga’s price is at around $2.36 as of right now and they went public at around $14.35 in February.
The 11 games being shut down include:
– Mafia Wars 2
– Vampire Wars
– Treasure Isle
– Indiana Jones Adventure World
– Word Scramble Challenge
Users of the games that are being shut down will be given a free bonus package of virtual goods in another popular games like ChefVille, CastleVille, and FarmVille 2.