The Facebook Effect: Zynga Trading at All-Time Low

Following Facebook’s initial trade on the Nasdaq, Zynga’s stock tanked, hitting an all-time low. The social game maker, which makes up 15 percent of Facebook’s revenue, did not benefit from the company’s public offering. In early trading this morning, Zynga’s shares fell 13.30 percent, or $1.10 apiece, to a new low of $7.17. Zynga went public in December at $10 a share.


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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