When was zynga founded

Both games used the free-to-play, or "freemium" model, which gave them wide audiences and generated sales from a small group of users who spent large amounts on in-game items and virtual currency.

These high value users are sometimes referred to as "whales", and attracting and maintaining their interest was, and remains, Zynga's primary source of revenue.

In , the company released its popular puzzle game Words with Friends. It also debuted FarmVille a farming simulation game on Facebook and later through its own browser-based portal.

The game went on to be a huge hit, launch one of Zynga's most important franchises, and provide a framework from which many of the company's future games would be built.

It's worth noting that the gameplay and visuals of both Mafia Wars and FarmVille were largely derivative of games from other developers, and Words With Friends is similar to the popular board game Scrabble. The next year saw the company release CityVille , which went on to surpass FarmVille in popularity. By this time, Zynga was the most successful app developer on Facebook's platform and it had built a stable of successful properties, but cracks in its business were already forming due to tensions with Facebook over monetization schemes and the rising popularity of apps that ran on mobile and PC operating systems rather than browser portals.

It's been mostly downhill since then. These shifts caught Zynga flatfooted and resulted in substantial and prolonged revenue declines. Mark Pincus left the company in following a string of disappointing releases and acquisitions and was replaced as CEO by Don Mattrick -- who had previously spearheaded Microsoft 's Xbox and Xbox One.

Mattrick proceeded with the goal of speeding Zynga's transition to mobile, but his tenure would ultimately be defined by a poorly received update to Zynga Poker and a costly, underperforming acquisition.

He stepped down in and was replaced by Pincus. This was also not to last, as Pincus left the chief executive role again in and was succeeded by current CEO, and former Electronic Arts mobile executive, Frank Gibeau. Under Gibeau, the company is focusing on quickly reaching profitability by increasing monetization from its core games rather than devoting lots of resources to developing the next big mobile hit. So far, Wall Street seems to be liking the new approach.

If you want to read more from Pincus, here is his blog post. Our mission has never been more vital than it is in this moment: to empower through understanding. Financial contributions from our readers are a critical part of supporting our resource-intensive work and help us keep our journalism free for all.

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By choosing I Accept , you consent to our use of cookies and other tracking technologies. Reddit Pocket Flipboard Email. Under the new structure, all Zynga shareholders will have equal voting rights. This article originally appeared on Recode. Next Up on Recode. The Latest on Vox. Why movies tilt the camera like this By Marie Cascione.

Soul food and the stories it tells about America By Jamil Smith. Justin Waldron co-founded gaming company Zynga with Mark Pincus when he was Today, he is an investor in over 50 companies across the globe, and has also founded another gaming startup - Playco. Good morning! He also happens to be an investor in over 50 companies across the world.

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