Mark Pincus, who founded Zynga in 2007 and gave up his CEO title less than a year ago, is now giving up all his operational duties at the company.
Zynga plans to buy U.K.-based game developer NaturalMotion for about US$527 million while cutting 15 percent of its own workforce.
Game developer Zynga is testing bitcoin for in-application purchases of virtual goods, becoming one of a growing number of online businesses accepting the virtual currency.
Zynga said it had settled a lawsuit alleging theft of trade secrets by a former employee, with the employee also issuing an apology.
Three top executives of struggling Zynga will move out of the company, as the games developer aims to flatten its management structure.
Zynga will get "back to basics" and take a "longer term view" of its business after reporting that its user base has declined by almost a half in the past year.
The offices of Zynga, Pinterest, AirBnB and other companies in San Francisco's South of Market District were under lockdown Friday after a shooting at a nearby store located in the same building as AirBnB's headquarters.
Zynga CEO Mark Pincus pursued Microsoft's Xbox chief for several months and had no other candidates in mind for the top job at the social games company, a source at Zynga said Monday.
Mark Pincus is stepping down as CEO of Zynga and will be replaced by the head of Microsoft's Xbox business, Don Mattrick, Zynga announced on Monday.
Social gaming publisher Zynga announced Monday that it will lay off 18% of its total workforce -- more than 500 employees -- in an effort to reduce staff costs and focus on the mobile sector.
Zynga's network of users has historically been tightly linked to Facebook's social graph, but now the gaming giant is looking to branch out.
Zynga's Mark Pincus made the annual "Worst CEOs" list compiled by Dartmouth College professor Sydney Finkelstein, which also nearly included Mark Zuckerberg of Facebook and Andrew Mason of Groupon.
Facebook and Zynga have loosened their ties in an amended agreement that does away with most of Facebook's exclusive rights to Zynga games, but also permits Facebook to develop its own games from March next year.
Zynga is cutting about 5 percent of its workforce, and is "sunsetting" 13 of its older games, the company's founder and CEO Mark Pincus said Tuesday in a note to employees.
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