Zynga's CEO still sees the company's fast growth even during the COVID-19 global pandemic. There was a massive boost from March to June because of the new and returning users.
Zynga beats Q2 2020 expectations with bookings up 38% to $518 millionhttps://t.co/SSZgNea1XG pic.twitter.com/9a4w1mPq7E — Joeri Wagner (@joeriwagner) August 18, 2020
However, Frank Gibeau, the CEO of the company behind the popular mobile-phone games luke Words and Friends, stated that the increase of users caused by the global pandemic is fading since the consumers playing in their homes are beginning to leave their house.
"March to late June was a unique period of time," said Gibeau, saying that those days will be over soon.
But, he claims that the game industry will maintain its strong double-digit growth, even if the kids started to return to school. Zynga adjusted revenue increase by 36% last quarter. The company will also try out new platforms and pursuing acquisitions to continue growing.
After Gibeau took over the position as CEO in 2016, the company's fortunes and share have more than quadrupled, which is now near to $10 billion.
"Now we are thinking, What's the next ascent, how do we get to $20 (billion)?" he said. Zynga confirmed two deals since June, including the $1.8 billion takeover of Turking mobile-game maker "Peak," the biggest one currently.
How Mark Pincus transformed Zynga into a game powerhouse
Mark Pincus, Zynga's founder, made three formal failures, including "Tribe.net" and "Tag Sense," an ad company.
Back to the Future? Zynga Founder Mark Pincus Returns as CEO. https://t.co/FWfb2qZ3zF via @karaswisher pic.twitter.com/xisaD0Wm9Q — Walt Mossberg (@waltmossberg) April 8, 2015
"Don't go start a company just because you have a customer and someone will fund you. If it is a marginal idea, that's bad," said Pincus.
He started inviting other companies after Facebook opened up its application programming interface in 2007. Pincus began making applications on top of its social network. His plan also helped the social media platform to gain users and developers. However, Zynga was included in the free games, which were often seen as low-quality shareware.
Years later, the company started to grow fast because of its Zynga Poker and Mafia Wars. In July 2018, Kleiner Perkins Caufield and Byers invested $29 million in Zynga, which helped the social game company to be noticed across the globe. Mark Pincus explained that the failures he faced taught him that it is important to surround himself with people he could learn from.
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Written by: Giuliano de Leon.
