much of management is leaving and now V.P.? This isn't good. FB deal isn't that good either but some argue its actually better, I guess time will tell. Everyone is basing this a buy based on on-line gambling but if that was the case why are employees leaving?
Gaming is very competitive, look at thld, actv, Electronic arts, thqi , cool and others. Just saying be careful here.
Huge float, could see a R/V as sometime.
Don't know how these brokers valuate these companies but these IPO"s like Grpn, FB and Znga should have never have such high MC's and share counts. Upper management and employees cash out while retailers are left with major losses.
They should have IPO's with low valuations and worked MC up as earnings came out. This is truly a big mess and loss for many retailers.
pincus is just going to burn through his cash pile over the next 5 years. it probably will take that long for this company to go bankrupt. if it wasn't for that perfectly timed sale of public stock this thing would be bk a lot faster. my prediction, it will just flat line for the next 3-5 years at 2 and change or less and then when all the people turnover 2 to 3 times people will realize what a f bag pincus is.
Five years will be a stretch, especially if the company loses in any of the pending lawsuits. I'm thinking more like 18 months. I never forget how a seemingly healthy company, Enron, went down the shaft so quickly, but they were cooking the books. The great injustice is that if I rob 7Eleven with a gun over $80- in the registry, I get locked away for seven years. Through absolute fraud ZNGA insiders cashed in to the tune of $600 million. Pinus' take was a cool $200 million. It is quite unlikely that anyone ever will be prosecuted, but divine justice will still be at work here. It will unfold over time, and it won't be a pretty sight.
Online gambling is just a carrot dangling in front of idiot investors. ZNGA does not have the resources to undergo such an endeavor. There is just way too much legal red tape, anyone stating otherwise just doesn't know what they are talking about or are knowingly lying.
they've already been granted a uk licence,which is governed by a gaming board....they need to shed alot of staff, in order to recruit new staff for gambling side of business.they will keep creating new games for facebook in exchange for improved databases for bothsides.