Peter Kafka

Recent Posts by Peter Kafka

Zynga Paid Cash for OMGPOP

One of the advantages to going public is the ability to use your stock for acquisitions. But Zynga didn’t use its newly liquid shares to buy OMGPOP this week — it paid $180 million cash for the Draw Something game maker, the company told the SEC today. (Per our earlier report, OMGPOP employees may be able to make another $30 million via earnout/retention payments.) Meanwhile, Zynga CEO Mark Pincus has registered to sell another 16.5 million shares, currently worth $228 million.


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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald