Zynga CEO: Staff stock renegotiation 'probably wasn't a good idea'
You gotta' love how hindsight is 20/20. During a telling interview with The Wall Street Journal (WSJ), Zynga CEO and founder Mark Pincus reflected on one of the most turbulent times in the company's history: the months before its initial public offering (IPO). While Pincus stands firm behind the results of the IPO, the proverbial founder of FarmVille did express some regrets.
"I realize that that wasn't a model that had been done in Silicon Valley, and we're always as a company trying to invent new models, and not all of them are worth keeping and repeating," Pincus told WSJ in response to whether renegotiating stock compensation offers with early employees was the right move. "That's never been a policy at our company, and probably I'd say in retrospect, given how much that blew up, and questioned traditions in the Valley, I think probably wasn't a good idea."
Pincus's ultimate decision might have resulted in the end of two long-time employee's careers with Zynga, based on the CEO's words. But we imagine Pincus is already looking forward. In fact, Zynga may have already changed its opinions slightly on real-money gambling within social games, a hot topic now that the Department of Justice has shifted its stance on the issue.
"We're watching it with interest," Pincus said to WSJ. "Virtual reality is about the connection between the virtual and the real, and there's just such a close and perfect connection between the virtual and the real when you're gambling, because these chips have real world value."
[Image Credit: Forbes]
What do you think of Pincus's reflections on what happened prior to Zynga's IPO? Would you ever gamble in a Zynga game? Sound off in the comments. Add Comment.