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$2.3bn? Not enough to buy Rovio

Tim Green
$2.3bn? Not enough to buy Rovio

Angry Birds maker rejects Zynga's ulcer-inducing cash and shares offer.

Cripes. What a difference one product makes.

After years of effort and no hits, Rovio hit the jackpot with Angry Birds to such an extent that, when Zynga came calling with $2.3bn, it said no.

The story emerged from a long article in the New York Times about the corporate culture at Zynga.

The piece was pretty coruscating, depicting an overworked and demotivated workforce that is brutally culled when performance targets aren't.

It even suggests that the culture was enough to deter PopCap Games from accepting $950 million from Zynga and accepting a $740m offer from EA instead.

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Zynga has been the stand-out success of the stellar social gaming space, and is currently preparing for an IPO.

But it's having some local difficulties according to TechCrunch, with daily active users down from 59 million in the second quarter to 49.5 million now.

Apparently, user numbers for all its games except Castleville and Words with Friends are down.




Tags: Games , gaming , rovio , zynga , angry birds , M&A