Facebook Inc (FB) Still Controls The Future Of Zynga Inc (ZNGA)
Efforts by Zynga Inc (NASDAQ:ZNGA) to reduce its dependence on Facebook Inc (NASDAQ:FB) are taking hold, but not at the rate some investors might hope, Fool contributor Tim Beyers explains in the following video.
According to its latest 10-K filing, Zynga derived 69% of bookings and 75% of revenue from Facebook in 2013. Huge numbers, to be sure, but also down from 2012, when Zynga counted on the social network for 81% of bookings and 86% of revenue.
Impressed? Don’t be, Tim says. The ratio is far higher than others who hope to take Zynga’s place as a go-to for mobile gaming. Take Kabam, which recently acquired peer Phoenix Age and is aiming for as much as $650 million in 2014 revenue — an 80% increase, according to TechCrunch.
Watch the video below for more details: