Zynga to buy "Golf Rival" maker StarLark for $525 million [Reuters]
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Source: Reuters
Zynga's shares fell 8.6% in extended trading, as the company's full-year bookings forecast fell short of analysts' estimates. "FarmVille"-maker Zynga has spent billions of dollars on acquiring mobile game developers Peak, Rollic and Echtra Games to beef up its game roster after gaming skyrocketed during the COVID-19 pandemic as people stuck at home had limited entertainment options. U.S. spending on mobile sports genre rose to $648.8 million, a 16% jump between June 1, 2020 and May 31 2021, data from analytics firm Sensor Tower showed. "We have been investing in our game teams, new games, acquiring game companies like Peak and entering new categories like Rollic, the new purchase in China with StarLark is an example of that," Zynga Chief Executive Officer Frank Gibeau told Reuters. Rollic, a hyper-casual mobile game developer that Zynga acquired in 2020, has racked up over 1 billion downloads globally from its 15 titles that include the popular game "Hair Challenge", where pl
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