Zynga (ZNGA) Tuesday announced the launch of a cross-platform and device social gaming service – Zynga With Friends.
Zynga’s CEO Mark Pincus intends to obtain new network and mobile phone users by the way of acquisitions and product development. According to the first fiscal quarter earings report, Zynga generated 92% of revenues from Facebook platform.
Wedbush Securities analyst Michael Pachter said that to end the shackles of Facebook (FB) is a wise move, as there are more players outside the Facebook world.
Zynga With Friends service will allow developers to access social functions, such as chatting in the game, multi-player games, social network connections, as well as concerning about a friends’ game status.
However, the new game service did not make the investors happy. Zynga stock price turned into a loss of 5% from a gain of 3%, after the release of the new service in the San Francisco-based headquarter Tuesday.
Zynga stock price closed at $5.76 per share on the Nasdaq Stock Exchange Tuesday, far below the Zynga IPO price of $10.