|Bid||6.29 x 1000|
|Ask||6.32 x 38800|
|Day's range||6.27 - 6.40|
|52-week range||3.32 - 6.55|
|Beta (3Y monthly)||0.20|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
If you want to know who really controls Zynga Inc. (NASDAQ:ZNGA), then you'll have to look at the makeup of its share...
(Bloomberg) -- Creandum, an early investor in Spotify Technology SA and iZettle AB, has raised a 265 million euro ($300 million) fund, in a bid to find and back Europe’s next tech superstars.With offices in Stockholm, Berlin and San Francisco, the venture capital fund returned more than $800 million to investors last year after exits from previous investments, such as Spotify, which went public on the New York Stock Exchange, and Small Giant Games, which was acquired by Zynga Inc.With it’s fifth and latest fund, Creandum will continue to target early-stage investments in so-called seed and A rounds in areas including food, health tech, mobility, fintech as well as logistics, manufacturing software and energy."We try to continue to stay small, despite a chance to raise more money," Johan Brenner, the general partner at Creandum, said in an interview, adding the fund’s backers are comprised of 26 investors, including pension funds, endowments and family offices in Europe, the U.S. and Asia.Creandum turned away some investors to keep the fund small, Brenner says, adding that it would help "to focus on the early stage, where we think the best investments can be made and the best returns can be made for our investors."While a larger fund would allow the firm to make many more small investments, Creandum wouldn’t have the time to support the investments and the management, resulting in lower returns, Brenner said. Creandum said it has already made some investments through the new fund that are yet to be announced.Creandum’s fund size compares to peers that have raised much larger pools of capital. Accel, an early investor in Slack Technologies Inc., in May announced it has raised a $575 million fund aimed at nascent companies in Europe and Israel. While European insurer Allianz SE unveiled in February it was increasing the size of its tech investment fund to 1 billion euros.The Creandum II fund, which started in 2007, has returned about 1,000 percent. The fund in May 2018 sold its stake in iZettle to PayPal Holdings Inc. It was also one of the first institutional investors in Spotify in 2008.(Added context on Creandum II fund.)To contact the reporter on this story: Natalia Drozdiak in Brussels at email@example.comTo contact the editors responsible for this story: Giles Turner at firstname.lastname@example.org, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg Opinion) -- On Tuesday, Facebook announced its new cryptocurrency Libra with a white paper and prototype of the client software. Regulators are already tripping over themselves to regulate Libra, but the cryptocurrency isn’t even complete. Not just in need of updates. Libra is incomplete in the sense that its creators are still figuring out what to build.Libra’s documentation is a monstrosity, a 12-page white paper accompanied by 96 pages of technical detail. The papers are far from expository. There are vague references to empowering the unbanked and transitioning from centralization to decentralization, and an unspecified shift from permissioned access to permissionless with open participation in governance. The documents not only describe a lot of functionality that hasn’t been built but also refer to major architectural features that have yet to be invented.(1)“Make it up as we go along” is reasonable for a seed-stage startup, but not something one would expect from a half-trillion-dollar tech company — especially not one that’s collecting $10 million checks from prospective members.I spent an afternoon installing Libra with the goal of creating my own digital asset, and it was not an empowering experience. Most of the features were unavailable or unimplemented, and there was little functionality beyond the ability to place fake coins in a wallet. It’s odd that a company like Facebook would release software in such a state.The experience is a far cry from Facebook’s developer tools for its social network. The Facebook developer platform offers a set of programming interfaces for developers to integrate with the open “social graph” of personal relations, and when it launched in 2007, an ecosystem immediately sprang up to support it. In that case, Facebook erred on the side of being too openhanded with the tools it made available, and had to tighten access later on. Numerous companies built their business models by leveraging Facebook’s developer platform, from Cambridge Analytica to Zynga. Stanford even offered a computer science class to teach students to create Facebook apps.A developer platform may be the ultimate plan for Libra. The Libra “blockchain” was implemented in a trendy high-performance language called Rust, with open-source code hosted on Github, where hundreds of prospective Libra developers have already gathered to provide input. It’s possible that the Libra Foundation members will eventually provide funding for Libra app developers the same way the Ethereum Foundation provides grants to support those who build smart contracts for the Ethereum blockchain.Given the nonfunctionality of the current software and ambiguity of the white paper, it’s clear that Libra’s announcement was intended to solicit feedback from regulators rather than to win over users. Lawmakers are not known for their ability to accommodate rapid iteration, so it makes sense that Facebook would put out a rudimentary proposal before investing more energy and reputation in crypto.Regardless, the burden is now on regulators to define the boundaries rather than complain about a Cambridge Analytica type of scandal later on. Officials should have learned that if you give people tools, they will develop things in ways that will surprise you. Regulators do not like to be surprised.(1) From the white paper: ”We do not believe that there is a proven solution that can deliver the scale, stability, and security needed to support billions of people and transactions across the globe through a permissionless network. One of the association’s directives will be to work with the community to research and implement this transition.”To contact the author of this story: Elaine Ou at email@example.comTo contact the editor responsible for this story: Philip Gray at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Elaine Ou is a Bloomberg Opinion columnist. She is a blockchain engineer at Global Financial Access in San Francisco. Previously she was a lecturer in the electrical and information engineering department at the University of Sydney.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Zynga the casual games developer which once rode Facebook's platform topopularity and riches is now turning its attention to Snap for growth
The path to profitability had better be short if Uber wants to stop hemorrhaging money; plus more earnings from tech, retail, and more.
Mobile gaming company Zynga finally sold its headquarters building last week, raising millions in the process. So now what?
Shares of Zynga Inc. are up 2.3% in midday trading Tuesday after the company announced that it had agreed to sell its corporate headquarters with a leaseback provision. The deal, which is expected to close in July, carries a net cash benefit of about $600 million. Piper Jaffray analyst Michael Olson called the deal "dry powder" for future M&A. "We believe the primary use of cash will be potential acquisitions of smaller studios that can complement the Zynga portfolio," he wrote. "However, we are not anticipating a major, transformative acquisition, but instead, opportunities similar to its recent spate of purchases." Olson rates the stock at overweight. Zynga shares have gained 58% so far this year, as the S&P 500 has risen 13%.
Zynga Inc. said Tuesday it has agreed to sell and lease back its corporate headquarters from a unit of Beacon Capital Partners in a deal valued at about $600 million. The deal is expected to close before the end of July. Zynga will enter a 12-year lease that will expire in July 2031 with the option to extend it by 22 years. The initial base rent will be about $10 million for the first year of the lease and may increased by more than 3.25% a year starting in July 2020. Shares rose 1.8% premarket and have gained 45.3% in the last 12 months, while the S&P 500 has gained 3.9%.
The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put...
Zynga and AMD Rose Over 5% after Quarterly ResultsZynga stock up by 5.6%The stock of gaming company Zynga (ZNGA) rose 5.6% on May 2 to close trading at $5.82. The stock is currently trading 75% above its 52-week low of $3.32 and 7% below its 52-week
May.02 -- Zynga Inc. Chief Executive Officer Frank Gibeau discusses the social gaming company's growth drivers and games in development with Bloomberg's Emily Chang on "Bloomberg Technology."