Zynga Paid $53.3 Million in Cash and Stock For Newtoy, IPO Filing Shows
Zynga’s IPO filing today showed that the company paid $53.3 million for what would become its Zynga With Friends studio, producing the top grossing apps Hanging With Friends and Words With Friends.
The company paid $44.3 million in cash with 1.4 million fully vested shares worth $8.9 million last November for Newtoy, a McKinney, Texas-based company that had already hit app Words With Friends to its name when it was bought.
The move helped Zynga grow its number of daily active users on mobile platforms by tenfold in seven months.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in