Chief creative officer leaves Zynga

Aug 29, 2012
Another top Zynga executive has cashed in his chips as the social games company behind "Zynga Poker" and "Farmville" strives to improve its fortunes after a losing fiscal quarter.

Another top Zynga executive has cashed in his chips as the social games company behind "Zynga Poker" and "Farmville" strives to improve its fortunes after a losing fiscal quarter.

Zynga chief creative officer Mike Verdu said in a blog post late Tuesday that he is off to start a new company. Verdu's departure comes less than three weeks after the exit of chief executive John Schappert.

"It's time for me to try something new," Verdu said.

"Being at Zynga in the early days reminded me of how much I love being an entrepreneur," he continued. "After a lot of soul-searching, I have decided to go back to my roots and start a new company."

Verdu joined Zynga about three years ago after working at US videogame giant , where Schappert was once an executive.

Spirits have sunk at San Francisco-based Zynga along with the . The market has grown wary of social after investors were burned during 's debut as a publicly traded company.

Zynga rose to stardom by tailoring games for play by friends at Facebook and went on to create its own online playground at zynga.com.

Heavyweight Amazon.com recently got into the game to compete with Zynga, and rival EA has filed a lawsuit accusing Zynga of copying one of its titles.

Zynga shares were down nearly three percent to $2.99 in trading Wednesday afternoon on the Nasdaq exchange.

Zynga went public in December at $10 per share.

Online retail colossus Amazon early this month launched its first online social game in a challenge to Zynga and announced the creation of a Game Studios team actively seeking new talent.

The "Living Classics" title was tailored for play at Facebook.

Amazon has the capital and the online clout to "disrupt" the industry from small startups to established titans such as EA, according to Douglas McIntyre of investment website 247Wallst.com.

California-based Electronic Arts has filed suit claiming Zynga's game "The Ville" introduced in June illegally copied "The Sims Social."

The Sims Social is among the life-simulation games from Silicon Valley-based EA. Zynga vowed to fight the lawsuit.

Zynga shares took a blow in July after the company reported a $22 million loss in the second quarter.

Explore further: Why the Sony hack isn't big news in Japan

add to favorites email to friend print save as pdf

Related Stories

Zynga chief operating officer leaves the game

Aug 09, 2012

Zynga's chief operating officer folded his cards on Wednesday, leaving the social games company just as heavyweight Amazon.com steps into the ring and rival Electronic Arts (EA) takes it to court.

Suit says Zynga copied 'Sims Social' game

Aug 03, 2012

US videogames giant Electronic Arts said Friday it had filed suit claiming Zynga's game "The Ville" illegally copied the life simulator "The Sims Social."

Zynga sues French startup over "Ville" game

May 08, 2012

Zynga is out to strip "Ville" from the name of a social game made by French firm Kobojo on the grounds it piggybacks on a line of its titles including "CityVille" and "FarmVille."

Zynga mulls online gambling market

Jan 20, 2012

(AP) -- Zynga, the social game company known for "FarmVille" and "Zynga Poker," is mulling a new market - online gambling.

Recommended for you

Why the Sony hack isn't big news in Japan

43 minutes ago

Japan's biggest newspaper, Yomiuri Shimbun, featured a story about Sony Corp. on its website Friday. It wasn't about hacking. It was about the company's struggling tablet business.

Sony faces 4th ex-employee lawsuit over hack

5 hours ago

A former director of technology for Sony Pictures Entertainment has sued the company over the data breach that resulted in the online posting of his private financial and personal information.

Sony tells AFP it still plans movie release

6 hours ago

Sony Pictures boss Michael Lynton denied Friday the Hollywood studio has "caved" by canceling the release of "The Interview," and said it still hoped to release the controversial film.

2012 movie massacre hung over 'Interview' decision

20 hours ago

When a group claiming credit for the hacking of Sony Pictures Entertainment threated violence against theaters showing "The Interview" earlier this week, the fate of the movie's big-screen life was all but ...

Clooney slams skittish Hollywood after Sony hack

Dec 19, 2014

Film star George Clooney slammed the Hollywood movie industry for failing to stand up against the cyber threats that prompted Sony Pictures to cancel release of the movie "The Interview."

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.