Tags: Zynga | Facebook | Ties | Growth

Zynga Loosens Facebook Ties in Search of Growth

Thursday, 29 Nov 2012 05:34 PM

 

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Zynga Inc. loosened ties to Facebook Inc., the main platform for its games, amending the pact that had governed a close collaboration between the two companies.

Zynga will no longer be required to use Facebook as the login for game users, and Facebook, operator of the world’s largest social network, will now be able to develop its own games, according to the terms of the new contract. Zynga can also elect not to use Facebook Payments as the way for users to buy virtual goods, and it can also opt not to display ads served by Facebook.

More than a half-dozen senior executives have left Zynga in recent months amid a stock-price decline and growing concern among investors about the company’s ability to accelerate growth. Faced with slowing sales and a sagging stock price, Chief Executive Officer Mark Pincus has embarked on a reorganization aimed at reviving growth by cutting costs and focusing on mobile.

“Zynga’s mission is to connect the world through games,” Barry Cottle, Zynga’s chief revenue officer, said in a statement. “In order to do this, Zynga is focused on building enduring relationships with consumers across all platforms from Facebook and Zynga.com on the Web to tablets and mobile.”

“Our amended agreement with Facebook continues our long and successful partnership while also allowing us the flexibility to ensure the universal availability of our products and services,” Cottle said.

© Copyright 2014 Bloomberg News. All rights reserved.

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