Grant Brünner, September 19, 2012
Hot off of recent news of Zynga losing the former Chief Revenue Officer of OMGPOP, TechCrunch is reporting that Nils Puhlmann, Zynga’s Chief Security Officer, resigned yesterday. When asked about the reports, Zynga declined to confirm or deny. Much like Research in Motion, Zynga’s fumblings aren’t even surprising anymore. At this point, we expect Zynga to lose employees and face new legal threats almost incessantly. It’s not surprising at all that years of unbelievably scummy activities are finally coming home to roost. The house that Farmville built is crumbling, and it’s going fast.
From their peak of $14.69 per share this year, Zynga has been on a steady decline. Since the end of July, they’ve been hovering around the high $2s and low $3s. It continues to feel good to see a company with such a bad reputation continue to falter in terms of legal issues, staffing issues, and stock price.
As the pressure builds, we sit back with our popcorn, and we wait patiently to see what happens with everyone’s least favorite game development studio. Will it collapse, or will we see a buy-out? Could the remaining executives turn it around? Well, it’s coming to a head here, so we’ll be seeing very soon. For now, let’s just keep our eyes out for the next step in Zynga’s story.Follow @macgasm