Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Zynga Shuts Down OMGPOP One Year After Acquiring It For $200M

techcrunch.com

Post reply on HN
Print view View original

91–100 of 207 posts

Re: Zynga Shuts Down OMGPOP One Year After Acquiring It For $200M

#91

Post by abraininavat »

Ixiaus wrote: post #75
abraininavat wrote: post #59

Earlier quoted context omitted.

One could argue that the system is currently set up to benefit executives (who often end up winning, regardless of whether the company loses) at the expense of shareholders and/or the general public. One could argue that this is a problem that market forces can't fix, and therefore that a regulatory solution is called for. One might refer to this sort of regulation as "taking back" the unfair advantages the executive…

Now why should it be any different? There are a few companies experimenting with different hierarchies, hierarchy-less, and different role/position value assignments (tied somewhat with hierarchy), but in general I think pitch-forking the "1%" is just the "herd entitlement". If you're on the bottom and don't like it, then get on top; this day and age that is actually possible . In history prior, you had to be born in…

I guess I'm not getting what you're not understanding, Ixiaus.

If you accept the premise that an injustice exists, of what use is it to argue repetitively that one should "get on top", if one has a problem with it? You seem to assume that the OP is saying "It's not fair, why can't I be on top??" when he's not arguing anything of the sort. Not everything is about winning.

Is it possible that you're presenting a clever, sardonic caricature of an entrepreneur, and the joke went completely over my head? If so, you got me! Good one!

Re: Zynga Shuts Down OMGPOP One Year After Acquiring It For $200M

#92

Post by danielrhodes »

pavs wrote: post #12

I want to know what kind of thought process goes on company/individual's mind when they decide to do an acquisition like this, for $200M, which doesn't make enough money to justify it. You would think when you are throwing around that kind of money, they would do some rudimentary research? How much money was omgpop making at the time of the acquisition?

It probably went something like this: Zynga is in the hit-driven games business. Engagement around games has shifted to mobile, and Zynga is weak in mobile. Draw Something could have potentially been a new big franchise, and given the current state of affairs at OMGPOP, was probably already up for sale. $200M is not that much money to a company like Zynga, especially when they are handing out stock and not all cash. Add that to a little hype, and you've got the makings of a deal.

Re: Zynga Shuts Down OMGPOP One Year After Acquiring It For $200M

#93

Post by Ixiaus »

_delirium wrote: post #81
Ixiaus wrote: post #75

Earlier quoted context omitted.

Now why should it be any different? There are a few companies experimenting with different hierarchies, hierarchy-less, and different role/position value assignments (tied somewhat with hierarchy), but in general I think pitch-forking the "1%" is just the "herd entitlement". If you're on the bottom and don't like it, then get on top; this day and age that is actually possible . In history prior, you had to be born in…

Income mobility is actually lower in the USA than in Europe, fwiw, and most startups are founded by people from middle-class or better families. Part of the reason is that the free education is, especially in poorer areas, not great: high-school computer curricula are in a sad state. Another part of the reason is that people with a family safety net find it easier to start companies. A third is that family connection…

Oh I'm sure there are difficulties in our day and age, I don't mean to trivialize it - but the idea that "people being paid $20M a year while I write code and get paid $140K a year is unfair" strikes me as ridiculous. The resource available to people in the modern time is far richer and available than any other time in history.

Sure there are a lot of hurdles, but if you want to be that executive being paid millions, you can do it - whether you're a programmer, a writer, whatever.

Re: Zynga Shuts Down OMGPOP One Year After Acquiring It For $200M

#94

Post by pekk »

petercooper wrote: post #43
crimsonzagar wrote: post #3

Is there anywhere a list of investors who called Zynga a "big deal" two-three years earlier?

We could just look at the investors who put significant sums in. Crunchbase has a list: http://www.crunchbase.com/company/zynga To be fair to them all, it reads like a who's who of the VC world from Brad Feld and Reid Hoffman through to Andreessen Horowitz, Softbank, and Union Square Ventures. I'm not sure any blame could be laid at their doors though, it was an exciting and high growth company and that's exactly wha…

Which is exactly why this is an appropriate place for introspection and even harsh criticism of what has happened. Two years ago people calling this event would have been "haters" - and because of the difficulties of forecasting, it was reasonable at least to say "we'll wait and see."

But now we've seen. The question is whether we will treat this as a freak accident purely unique to Zynga, or learn something from it. First, though, we need to allow that discussion rather than just saying "just make your own company if you think Zynga was bad." Really?

Re: Zynga Shuts Down OMGPOP One Year After Acquiring It For $200M

#95

Post by Ixiaus »

namdnay wrote: post #86
Ixiaus wrote: post #75

Earlier quoted context omitted.

Now why should it be any different? There are a few companies experimenting with different hierarchies, hierarchy-less, and different role/position value assignments (tied somewhat with hierarchy), but in general I think pitch-forking the "1%" is just the "herd entitlement". If you're on the bottom and don't like it, then get on top; this day and age that is actually possible . In history prior, you had to be born in…

Following your reasoning, there is no reason to criticise any entitlments. "MEPs have huge salaries?" "Mayors are giving social housing to their families?" "Government Railway employees get gold-plated pensions?": "Stop complaining! Just become one of them!"

Well, yeah. I basically am saying "stop complaining" but I'm not directly saying "become one of them" I'm saying "become what you WANT".

Re: Zynga Shuts Down OMGPOP One Year After Acquiring It For $200M

#96

Post by ScottBurson »

ianstallings wrote: post #68
tlb wrote: post #42

Earlier quoted context omitted.

Not even trying. Edit: no, that's too mean. But I like people who take risks, and I get defensive when people snicker at failure from their armchairs of hindsight. We should learn from failures, but not rush to say, "he failed, what an idiot!"

I'm curious how you know so much about me. How do you know what I've done? I've already started my own companies bud and sold them, twice. I'm working on my third now after just building a startup with some others called Brabble. Here it is: https://itunes.apple.com/us/app/brabble/id570281083?mt=8 To the post below: BKRGB which was an signage platform and ShaiSoft, which sold networking library software. The rest of…

I'm curious how you know so much about what's happening at Zynga. You haven't supplied any evidence at all to support your speculation that undeserving people are benefitting. I'm not particularly up on the situation either, but it looks to me like the OMGPOP people had a one-hit wonder and timed the sale of it perfectly. Do you have any basis for your accusation that cronyism played a role?

Re: Zynga Shuts Down OMGPOP One Year After Acquiring It For $200M

#97

Post by abraininavat »

unoti wrote: post #71
abraininavat wrote: post #59

Earlier quoted context omitted.

One could argue that the system is currently set up to benefit executives (who often end up winning, regardless of whether the company loses) at the expense of shareholders and/or the general public. One could argue that this is a problem that market forces can't fix, and therefore that a regulatory solution is called for. One might refer to this sort of regulation as "taking back" the unfair advantages the executive…

Shame on the shareholders, then, for letting that happen. In the case of Zynga, why did they buy stock? Was it because Zynga was an amazing company with brilliant technology, a solid executive team focusing on long term fundamentals and sustainable business practices? Or did most of them invest because the stock price was going up and the business had buzzwords like "social", and so they jumped in like sheep to try t…

But that's fundamentally because of the stupidity and laziness of the shareholders

Absolutely, I agree 100%. Our Democracy as a whole suffers from the same problem. That doesn't imply, however, that the problem can't or shouldn't be fixed by someone other than the shareholders. Our society may decide that it would be a better one with some checks and balances in place to keep shareholders from shooting themselves in the foot.

Note that I'm not arguing, one way or the other, that there's a problem or that it should be fixed. I'm simply pointing out that You can start a company too! and even It's the shareholders' fault may be true statements but they don't address whether the problem should be fixed.

Re: Zynga Shuts Down OMGPOP One Year After Acquiring It For $200M

#98

Post by ianstallings »

IAmAI343 wrote: post #82
ianstallings wrote: post #68

Earlier quoted context omitted.

I'm curious how you know so much about me. How do you know what I've done? I've already started my own companies bud and sold them, twice. I'm working on my third now after just building a startup with some others called Brabble. Here it is: https://itunes.apple.com/us/app/brabble/id570281083?mt=8 To the post below: BKRGB which was an signage platform and ShaiSoft, which sold networking library software. The rest of…

Since you brought it up, which companies are those? Otherwise It just seems like you are making it up to make yourself look better. By the way, I've also made iOs apps that barely get any ratings.

BKRGB which was a signage platform I built last year with a partner and sold and ShaiSoft, which sold networking library software that I sold in 2002. I'm not rich because of it but I have tried and succeeded.

It's interesting how you belittle me because my numbers aren't big enough on the Brabble app. If I had bigger numbers could I criticize then?

Re: Zynga Shuts Down OMGPOP One Year After Acquiring It For $200M

#99

Post by tlb »

ianstallings wrote: post #68
tlb wrote: post #42

Earlier quoted context omitted.

Not even trying. Edit: no, that's too mean. But I like people who take risks, and I get defensive when people snicker at failure from their armchairs of hindsight. We should learn from failures, but not rush to say, "he failed, what an idiot!"

I'm curious how you know so much about me. How do you know what I've done? I've already started my own companies bud and sold them, twice. I'm working on my third now after just building a startup with some others called Brabble. Here it is: https://itunes.apple.com/us/app/brabble/id570281083?mt=8 To the post below: BKRGB which was an signage platform and ShaiSoft, which sold networking library software. The rest of…

Hey, that's great. I hope Brabble succeeds, and the next one and the one after that. Perhaps, someday, one of your ventures will fail. You can minimize the psychic pain by learning not to equate business failure with bad intentions.

Re: Zynga Shuts Down OMGPOP One Year After Acquiring It For $200M

#100

Post by potatolicious »

sdoowpilihp wrote: post #57
samstave wrote: post #27

I deleted DrawSomething from all my devices and we stopped playing it the day OMGPOP was purchased by Zynga... I vote with my appstore.

More people stopped playing because they got bored. The fickleness of the public is the real danger in games like these, not the idealism of a few (which is a tragedy, as the latter would likely lead to much better games)

Is it really fickleness? Even hardcore games have a relatively short shelf-life. The only real exceptions are games like WoW which have been able to maintain some staying power.

For nearly everyone else all the money is made in the first few months after which it disappears into the bargain bin. It seems like social gaming is no different.

Post reply on HN