Don Mattrick attempts to revive Zynga
Zynga needs more than just a buoy to stay afloat. The social games developer firm needs a man strong enough to pull the drowning company out of deep waters.
The studio's new chief executive officer Don Mattrick conducted a full company review of Zynga in an effort to perform what analysts believed to be an incredible task - salvage the company. Mattrick was a former executive of Microsoft's entertainment division.
"Joining Zynga is a once-in-a-lifetime opportunity to partner with a founder like Mark," the CEO said five years ago after the company posted a rocketing shares report.
The research of the top executive included the company's game pipeline. The quality of games was zeroed in by Mattrick, noting that improvements must be made in the division. "I'm also going to use the next 90 days to assess and reset our product pipeline," Mattrick added.
Analysts believed that this meant entirely scrapping games which aren't expecting any profits. He said that the priority is to adapt with the industry's shift to mobile. Games previously inaccessible to the mobile platform should be available for download for smartphones and tablets soon, observers said.
Since Mattrick's appointment as CEO, the company never saw an increase in revenue. Recently, Zynga reported a massive loss in customers as almost 70% of its regular users left. The company's latest earnings report also posted US$15.8 million loss, as shares plummeted to 2 cents per share.