FarmVille maker CEO: 'Our employees have a real love for Zynga'
Zynga went public this past Friday, and the results were ... less than favorable. But on top of a slipping stock price, investors and recruiters alike have voiced concerns that the company's offering will inspire staffers to cash out, or sell their stock in the company and abandon ship. Not according to what CEO and founder of the FarmVille creator, Mark Pincus, told Fortune.
"I'm not sure why there's been all that speculation other than that we've been in a quiet period," Pincus told Fortune. "Our company has historically had very low attrition, much lower than other public or private companies in Silicon Valley. I know that hasn't been reported on, but it's true. We also continue to have an amazing inflow of resumes and talent."
The man behind CityVille was referring to suspicions sparked by a scathing New York Times report in which an EA recruiter said that Zynga's intense culture might drive employees to sell their shares and join other companies. (In this recruiter's case, hopefully EA.) "Our employees have a real love for Zynga and real pride," Pincus told Fortune. "We've asked them not to go out and defend us in the press or blogs, so I don't think that's come through publicly yet."
However, even before Zynga filed to go public, employees have spoken out on the company's culture and Pincus's approach to the business of making games. As of this writing, Zynga shares hover around $8.80--over a dollar less than the company's initial $10 asking price. If Zynga employees are going to sell, now's the time to do it.
Do you think the Zynga IPO could result in an employee exodus? Would you leave the company now if you had enough shares in it? Sound off in the comments. Add Comment.