Zynga is putting its headquarters in San Francisco up for sale. Zynga CEO Mark Pincus announced his intention to sell the building during the presentation of financial results for 2015.
According to the official version, the company no longer needs a large room because the team has recently decreased from 3.5 thousand to 2.3 thousand.
The editorial board of App2Top suggests that the low cost of shares played a role.
Dynamics of the value of Zynga shares in the period from October 10, 2015 to February 8, 2016. Source – Zynga
Zynga plans to sell the headquarters, and then rent the building from buyers.
This will be done so that the company’s employees do not have to change their place of work.
Recall that it recently became known that Zynga ended the year with a 1% sales growth. Prior to that, the company had been in financial decline for several years.
A source: http://seekingalpha.com