Is The Environment At Zynga Too Toxic For An IPO?
It appears that an initial public offering by Facebook game developer Zynga is just days away, but will the IPO aftermath include an exodus of the company's most talented employees?
It appears that an initial public offering by Facebook game developer Zynga is just days away, but will the IPO aftermath include exodus of the company’s most talented employees? And would that prospect taint pricing on the capital markets?
The New York Times‘ DealBook posted a detailed look at the culture at Zynga, the rampant employee dissatisfaction, and the fact that recruiters are already targeting staff at the video-game developer.
DealBook reported that upper management at Zynga relies heavily on weekly reports and performance data, pushing its employees hard and demoting or firing those who don’t meet expectations, with some being offered new positions at the same salaries, but with smaller equity packages.
The environment can be toxic, as “emotionally charged encounters” with senior management, including Chief Executive Officer Mark Pincus, occur frequently, according to DealBook.
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