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Zynga found its footing in mobile, and now it’s finding big growth
Zynga is a social gaming company founded in June 2007 by Mark Pincus, Michael Luxton, Eric Schiermeyer, Justin Waldron, Andrew Trader, and Steve Schoettler. Zynga has six in the top ten in the facebook game. On May 21, it announced the acquisition of Chinese social game developer Hippet Information Technology (Beijing) Co., Ltd.
Zynga is once again one of the fastest growing game developers. The studio's revenue in the second quarter of fiscal 2020 jumped to $306 million. Compared with the same period last year, it has increased by 41%. The company's bookings were $376 million, an increase of 61% compared to the same period in fiscal year 2019. Although the studio was known for social networking games such as FarmVille on Facebook, it has been trying to transform mobile for the past five years. This transition is now over. Zynga now has 95% of its revenue from mobile.
Zynga's revenue and bookings exceeded Wall Street's expectations and rose by about 1% in after-hours training. Investors are happy to see the current strategic diversification of developers. Empires & Puzzles and Merge Dragons both recorded record revenues in the second quarter. For a long time, Words with Friends has achieved the best second quarter in mobile revenue and booking. Other familiar Zynga brands such as CSR2, Zynga Poker and Hit It Rich Slots are also growing.
Zynga is a social gaming company headquartered in San Francisco, USA. Most of the games developed by Zynga are web games and are distributed on Facebook and MySpace social networking sites. The company is headquartered in San Francisco, USA. Zynga's games such as Treasure IsleTexas Hold'em, Gang Wars and Dope Wars are sought after by a large number of users. Zynga's main source of revenue is to make money by selling virtual items to users through social games.
Zynga quickly operates its gaming products as an Internet product: quickly launching products and maintaining and updating them faster. As a company with more than 1,300 people, Zynga's emphasis on speed is incredible. Everyone must perform as fast as charging. Once you find out which link has not caught up, Pincus will pounce on it. Zynga's internal division is divided into a large number of groups, which ensures that the speed required by Pincus can be implemented, which also ensures that the company can seize the market in the first time and can quickly adjust the product. While most companies know that they need to maintain updates, fix bugs, and keep users fresh, few companies like Zynga update the game several times a week.