It's time to put this former social giant out to pasture
Management chose to take the company public; and in December 2011, Zynga stock became the largest Internet-related IPO since Google (GOOGL, GOOG) debuted in 2004.
But, eventually the novelty of the games wore off, and FB users became tired of the unending barrage of incessant requests for bricks, seeds, plants and animals. After countless complaints about Zynga game notifications, Facebook institued policy changes that eliminated those notices — and stifled ZNGA traffic. In March 2012, Zynga purchased OMGPOP, a competing social game maker responsible for Draw Something, for $200 million.
At the time, Zynga stock was popular — shares had reached an all-time high of nearly $15. But ZNGA began plummeting, and by the end of August it was trading below $3.