Zynga CEO Pincus Is “Near Tears” According To Daily Mail

A report in the Daily Mail has revealed some interesting insights into the behind the scenes feelings of Zynga’s CEO Mark Pincus. As we have widely reported Zynga would rather forget the last few months which have been dominated by their share price drop and staff morale at an all time low.While in public Pincus insists on putting on a positive face but in private he has been “near tears” as a result of the sinking ship.

The main point of concern is the share price which has dropped by over 80% since its IPO launch in December. From a $10 level it is now trading at around $2.22.Added to this are massive job cuts at Zynga which includes the closing of studios, mass departures of senior executives and an admission of failing to take advantage of the essential mobile sector.

What makes things worse for Pincus is the fact that Zynga games still feature amongst the 10 most popular games on Facebook. They still also boast over 306 million monthly active users a. Another concern for Zynga is the fact that their games currently make up 7% of Facebook’s revenues which is a significant drop from the 12% in the third quarter of 2011.We have previously reported that Pincus himself has come under pressure from investors to even step aside as his ability to manage the company’s future has been questioned.

Investors have even gone as far as to bring in a technology expert Bill Campbell who worked with Silicon Valley giant like Steve Jobs.In a report in the Wall Street Journal Campbell was quoted as saying that Pincus “felt terrible about what was happening; he felt the turmoil.”Despite their current problems Zynga is well worth a bet as they have an excellent opportunity to revive their fortunes with their much anticipated entry into the real money online poker arena.

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