Peter Kafka

Recent Posts by Peter Kafka

Zynga’s Most Lucrative Game: Charm the Investors

Sure, Zynga can persuade consumers to pay up for virtual sheep and the like. But those transactions are worth only a few cents at a time. To get the big bucks, it looks to investors outside the U.S., who are happy to cut the company some very big checks.

Last year, the Facebook-centric game company raised $180 million from Russian investor DST. Now it is set to raise $147 million more from SoftBank, Bloomberg reports. A person familiar with the company tells me Zynga hasn’t actually closed the deal yet, but seemed confident that it would. A Zynga spokeswoman declined to comment.

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work