San Francisco-based video game company Zynga announced that it is looking for a game studio to buy more. Speaking about the company’s issuance of $ 875 million in convertible bills at the end of 2020, CEO Frank Gibeau said that they collected donations to create a “war chest” to make more purchases.
“As you know, we’ve been a consolidator in this business for a while and we are looking for great companies, great cultures, great teams we can bring to Zynga,” said CEO Gibeau.
Zynga becomes the preferred destination for developers
As you may remember, Zynga bought two Istanbul-based game studios last year. The company, which acquired Peak Games and Rollic, invested $ 1.8 billion and $ 180 million, respectively.
Referring to the acquisitions that took place last year in his speech, CEO Gibeau said, “There are now four or five examples of how we did this successfully. When we started, nobody was answering our calls. When we call now, we are the preferred place for many developers out there. said.
Gibeau also cited the company’s fourth-quarter earnings, which reported an all-time high revenue of $ 616 million and a net loss of $ 53 million.
In addition, the top manager of the gaming company stated that the number of daily active users increased by 77 percent year on year to 36 million, and the number of active users per month reached 134 million with an increase of 103 percent.
At the same time, the company estimates $ 2.6 billion in revenue for 2021 within its future plans and sets EBITDA at $ 450 million.
“We’re in a great position as we choose to buy in 2021, but we don’t have to make any deals,” Gibeau said, along with the company’s estimates. made the statement.
Finally, let’s say that the game company will launch games such as Puzzle Combat, Farmville 3 and Star Wars in 2021.