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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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