MARK PINCUS, Zynga IPO Flop, Huge San Francisco Mansion on Market, PHOTOS!
Mark Pincus, Founder and CEO of Zynga is officially a multibillionaire. Enjoying his new found riches, he’s trying to unload his San Francisco mansion in Presidio Heights.
The Zynga Presidio Heights pad was put on the market before Halloween (2011) with a (still current) asking price of $8,900,000. It boasts 6 bedrooms and 6.5 bathrooms and over 8,000 square feet, you can check out the photos here. Wowza, that’s some mansion!
On the IPO front, Zynga’s public offering fizzled after hitting the market at $10 per share, the price has already dropped to $9.50. I guess people love playing Farmville and aren’t stock buyers.
According to Wall Street Journal, “A lot of investors feel like they’ve been burned by this space” with the recent losses on Internet stocks including Pandora Media Inc., Yandex NV and RenrenInc., said Max Wolff, a senior analyst at GreenCrest Capital Management LLC. He added that investors are starting to care more “about valuation and not just [getting] exposure” to the sector at any price.
Mark Pincus, born under the astrology zodiac sign of Aquarius is an independent and free spirited guy. Married to Ali Pincus, they have twin daughters. Astrologically speaking, Zynga will continue to enjoy success for at least two more years. At that time, we predict either Facebook will try to acquire Zynga or will change platform rules and cause Zynga’s customer base to decrease. Either way, Pincus is laughing all the way to the bank.