Angel investor and co-founder Waldron leaves Zynga
Zynga co-founder Justin Waldron recently announced that he would be leaving the gaming giant after six and a half years. Waldron was credited in creating Zynga's first game and turning the company into a formidable player in the gaming market.
On his Facebook account, Waldron wrote a post, which read, "It's time to leave Zynga and venture off on my own again." The post did not provide any details as to what Waldron's plans would be after Zynga.
Aside from helping Zynga expand into a huge gaming company, Waldron had invested in several startups. In his profile on investor networking platform Angel List, Waldron had invested in RedHotLabs, Momentum Machines , InstantCab, YourMechanic, and Delectable.
Waldron's departure was timely as analysts and pundits questioned Zynga's longevity in the business with its current business model. Moreover. a review of the revenue history of Zynga by news site SeekingAlpha showed that the revenue margin between analysts' estimates and Zynga's actual numbers had been getting smaller. From a USD23.7 million margin recorded in the third quarter of 2012, revenue margin for the second quarter in July this year was only at USD3.5 million. The revenue figures also saw a decline in revenue output by the gaming company from USD316.6 million in the third quarter last year to USD230.7 million in the second quarter this year.