Zynga Shuts Down ‘PetVille,’ 10 Other Games

The social gaming company's restructuring moves continue

   

Zynga (NASDAQ:ZNGA) keeps getting smaller as the company tries to find ways to cut costs. To this end, it announced the dumping of 11 game titles, which include PetVille, Mafia Wars 2 and FishVille.

All of these games had meager traffic numbers. In fact, Mafia Wars Shakedown had only 1,000 monthly active users!

While Zynga is still the dominant game developer on Facebook (NASDAQ:FB), the platform has seen increasing competition. What’s more, Zynga recently ended its joint venture with the social network, which allowed preferential treatment.

Of course, Zynga’s main focus is on mobile games, with the likes of Texas Hold ‘Em Poker and Words With Friends. Cutting costs aggressively will certainly give Zynga more resources to devote to the business.

Yet investors continue to be skeptical. Since March, Zynga shares have gone from $15.91 to $2.42.

Tom Taulli runs the InvestorPlace blog IPO Playbook, a site dedicated to the hottest news and rumors about initial public offerings. He is also the author of “How to Create the Next Facebook” and “High-Profit IPO Strategies: Finding Breakout IPOs for Investors and Traders.”  Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, http://investorplace.com/ipo-playbook/zynga-shuts-down-petville-10-other-games/.

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