Zynga Now Worth Less Than Its Own Office Building - NeoGAF

[Legend]

Zynga Now Worth Less Than Its Own Office Building - NeoGAF

 

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Zynga bought its current headquarters, a massive 668,000 square foot, seven-story building at 8th and Townsend streets, for $228 million in 2012. After falling on tough times, Zynga put its headquarters up for sale in February of this year, but the building’s value has been undisclosed until now.
 Multiple sources close to the matter have revealed that Zynga’s headquarters is now assessed at around $540 million. As of close of market today, the company’s market value was around $2 billion. However, due to its reserves of approximately $1.5 billion of cash on hand, analysts estimate that Zynga is actually worth around $500 million. In other words, Zynga’s headquarters is now significantly more valuable than Zynga the company.
 Zynga rose to prominence with Facebook-linked games like Farmville and Words With Friends, but has struggled to replicate the successes of its earlier products. At the time of its 2011 IPO, Zynga’s shares were valued at $10 and the company boasted a workforce of 3,000 people. Now, their stock trades at $2 and rounds of layoffs have downsized their team to 1,700 employees.

 

Water my crops if old, Farmville looking more like a dustbowl now I guess.
 

I didn't realise they were this bad.

[the-pi-guy]

They've really fallen.
They aren't in a horrible position though, still have decent money to fall back on.  
But wow.  What a weird position for a company for the active part of it to be worth less than the building they are in....  

[BananaKing]

thats what happens when their plan was fudge creativity and lets copy other peoples ideas. they had no talent, and never desired to have any. good, let the company die.

[Max King of the Wild]

That's what happens when you buy something as a company that's completely useless and irrelevant. Zynga didn't need that building. As obvious by putting it up for sale less than 3 years later

It's the same type of shame with Krispy Kreme and Quiznos. Experience overwhelming success, let it get to your head, expand to every town that will let you, people get sick of your product quickly, close every store.

Now, I don't know a dang place I can get either of those (except gas station for donuts but I'm talking about fresh outta the fryer here)

[Dr. Pezus]

That's what happens when you buy something as a company that's completely useless and irrelevant. Zynga didn't need that building. As obvious by putting it up for sale less than 3 years later

It's the same type of shame with Krispy Kreme and Quiznos. Experience overwhelming success, let it get to your head, expand to every town that will let you, people get sick of your product quickly, close every store.

Now, I don't know a dang place I can get either of those (except gas station for donuts but I'm talking about fresh outta the fryer here)

Yeah I actually recently started watching the show Silicon Valley and they had a similar problem in that. If you go big, people have greater expectations that are harder to live up to.

[Mmm_fish_tacos]

That's what happens when you buy something as a company that's completely useless and irrelevant. Zynga didn't need that building. As obvious by putting it up for sale less than 3 years later

It's the same type of shame with Krispy Kreme and Quiznos. Experience overwhelming success, let it get to your head, expand to every town that will let you, people get sick of your product quickly, close every store.

Now, I don't know a dang place I can get either of those (except gas station for donuts but I'm talking about fresh outta the fryer here)

I like quiznos. The last time I had one was in FL, over 5 years ago. But I rather have a firehouse sub over everything.

[kitler53]

[Max King of the Wild]

Sheldon from Big Bang Theory got his major break from Quiznos commercial

[Legend]

That's what happens when you buy something as a company that's completely useless and irrelevant. Zynga didn't need that building. As obvious by putting it up for sale less than 3 years later

It's the same type of shame with Krispy Kreme and Quiznos. Experience overwhelming success, let it get to your head, expand to every town that will let you, people get sick of your product quickly, close every store.

Now, I don't know a dang place I can get either of those (except gas station for donuts but I'm talking about fresh outta the fryer here)

I love Krispy Kreme and Quiznos though  

Plus I knew quiznos had issues, but I didn't know Krispy Kreme did as well. Their store around here is still alive.

[Max King of the Wild]

I love Krispy Kreme and Quiznos though  

Plus I knew quiznos had issues, but I didn't know Krispy Kreme did as well. Their store around here is still alive.

Closest kk to me is 100 miles in Milwaukee. I lived in Milwaukee for a bit. Quiznos, I have no clue if any are around here but again, one by Milwaukee.

Both of them use to have dozens around here. All closed now. It's actually has a name in economics. Starbucks is actually the same too. They went a little overboard and had to close a bunch but they were fine because the ones they closed were more because they were redundant (like one in a strip mall and in the same parking lot a stand alone one). The economic thing is basically you see such demand that you try to expand as quick as possible to cash in and it gets to the point of saturation. When demand allows, your different locations are now competing with each other  and struggling instead of one doing really well

Just ate firehouse for the first time. Decent, I'm gonna have to go again and try a brisket or prime rib. I tried the club