Zynga Nearly Doubles Mobile Users After OMGPOP Acquisition
Zynga has more daily active users on mobile games than any other network, according to CEO and founder Mark Pincus. The company's revenue grew 32 per cent from the year-ago period to $321m, but it closed the latest quarter with net loss of $85.4m.
Zynga has 21m daily active users on mobile now, nearly double the 12m it reported in the previous quarter.
"We're pleased with the progress that Zynga has made in the first quarter growing our audience reach 25 percent year-over-year and nearly 20 percent quarter-over-quarter," says Pincus.
Zynga did make its largest acquisition to date during the quarter, which could explain the drag on financials. The company acquired OMGPOP, the team behind the overnight hit app Draw Something, for $210m last month.