Zynga has been in a downward spiral ever since its disappointing IPO in December 2011.
In October 2012, Zynga laid off 5% of its staff.
That same month, Zynga announced it was taking a write down between $85 million and $95 million on Draw Something. The game’s popularity fell off shortly after Zynga bought Draw Something maker OMGPOP.
But despite all the turmoil that Zynga has undergone over the last couple of years, prominent New York investor Fred Wilson isn’t giving up faith in Zynga CEO Mark Pincus.
“[Zynga will] get through it,” Wilson said at a PandoMonthly event last night. “I just fundamentally have confidence that Mark will get it done.”
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