It’s been a rough year for Zynga, which ousted founder Mark Pincus earlier this month. Fortune Live Media In its latest earnings statement filed Thursday with the Securities and Exchange Commission, Zynga reported the number of daily average users (DAU) dropped to 39 million in the second quarter of 2013—the lowest ever since the company began keeping track. Last quarter, the DAU fell to the then-lowest record, 52 million users . The fall to 39 million means that 25 percent of its daily user base stopped using Zynga products in just one quarter. Not surprisingly, Zynga’s bottom line fell too. The company sustained a net loss of $15.8 million in Q2 2013. (Last quarter, the gaming firm profited just $4.1 million.) The market wasn’t too thrilled with these numbers: in after-hours trading, Zynga’s stock price plummeted by nearly 15 percent. The once top-dog has gone through a bit of a rough patch during the last year. In the summer of 2012, the company quickly lost a bunch of executives and managers. That October, the company announced that it had overpaid for OMGPOP (maker of Draw Something ). More recently, Mark Pincus, the company’s founder, was ousted as CEO in early July 2013. Then Zynga suddenly shut down OMGPOP last month as well. Read 5 remaining paragraphs | Comments
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Game over for Zynga? Firm loses 25 percent of daily active users in one quarter
If you don’t follow the often-shady world of Bitcoin , you may not be familiar with Bitcoin Savings and Trust (BTCST), a virtual bitcoin-based hedge fund that many suspected of being a scam. BTCST shut down in August 2012, and on Wednesday the Securities and Exchange Commission (SEC) formally charged its founder, Trendon Shavers, with running a Ponzi scheme. In a statement , the SEC said Shavers “raised at least 700, 000 Bitcoin in BTCST investments, which amounted to more than $4.5 million based on the average price of Bitcoin in 2011 and 2012 when the investments were offered and sold.” The government’s financial regulator alleges that Shavers violated a number of federal financial regulations. In court documents , the SEC wrote: Read 2 remaining paragraphs | Comments
The National Security Agency (NSA) is a ” supercomputing powerhouse ” with machines so powerful their speed is measured in thousands of trillions of operations per second. The agency turns its giant machine brains to the task of sifting through unimaginably large troves of data its surveillance programs capture. But ask the NSA as part of a freedom of information request to do a seemingly simple search of its own employees’ e-mail? The agency says it doesn’t have the technology. “There’s no central method to search an e-mail at this time with the way our records are set up, unfortunately, ” NSA Freedom of Information Act officer Cindy Blacker told me last week. The system is “a little antiquated and archaic, ” she added. Read 7 remaining paragraphs | Comments