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Zynga has spent over $300 million on acquisitions since 2010

Tuesday, 25th June 2013 02:26 GMT By Brenna Hillier

Social and mobile publisher Zynga has spent $310,561,000 on business acquisitions since 2010, resulting in an enormous deficit.

The figure was pulled from new SEC filings by Bloomberg, which also reports the company had just $10 million in retained earnings before it went on its spending spree.

The net result is, apparently, an $897 million accumulated deficit “which is only getting worse”.

In related Zynga news, the company has secured a revolving credit line of $200 million which it can draw on in the future; the deal is particulary interesting as Zynga’s last credit deal was a $1 billion loan. Bloomberg speculates that banks and financiers are less comfortable betting that Zynga can make smart acquisitions in the wake of the OMGPop disaster.

Zynga purchased OMGPop in 2012 for $200 million, and shuttered it recently as part of major lay-offs and closures.

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3 Comments

  1. taylorlauder

    One of the worst tech IPOs to date. Next is Facebook.

    #1 2 years ago
  2. Brenna Hillier

    It’s all been a bit embarrassing, hasn’t it. Bubbles. For the sake of the staff I hope it turns around.

    #2 2 years ago
  3. salarta

    And to think, Zynga seems to be one of the companies that big name publishers are looking at when they actually consider the prospect of abandoning console/PC and going to browser and mobile games.

    #3 2 years ago

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