Zynga: The FarmVille game maker is getting acquired

1/11/22 7:00PM

Zynga, the gaming giant responsible for FarmVille, Words With Friends,Zynga Poker, Mafia Wars and many other titles is getting bought for $12.7 billion by Take-Two Interactive, the publisher behind Grand Theft Auto and the 2K sports series, in one of the biggest video game deals ever.

‍The brave new world

‍From its founding in 2004, until it hit one billion active users in 2012, the early years of Facebook presented an enormous opportunity for game makers. Facebook's rise meant that game makers could get in front of millions of procrastinating people by building a game directly into the Facebook platform, instead of competing for traffic on the wider internet.

‍Zynga took advantage of that green space better than anyone else, creating some of the most popular Facebook games such as FarmVille, Texas Hold 'Em Poker and Words With Friends, among many, many others. Every time you, or that distant cousin, successfully "invited" someone to play FarmVille on Facebook, Zynga got a new user, for free.

‍Pivot to mobile

‍Like all gold rushes, the Facebook game heyday didn't last forever. The rise of smartphones, mobile games and apps meant more competition for Zynga and its simple and addictive games. The company had to pivot, betting that mobile games would continue to grow. And grow they did.

Hyunsoo Rim

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JetBlue is raising its bag fees as fuel costs squeeze airlines

JetBlue will reportedly hike its bag fees, as the cost of jet fuel continues to climb amid the war in Iran. It’s the latest example of carriers finding ways to push rising costs onto travelers.

Last week, United Airlines CEO Scott Kirby said that if fuel prices remain elevated, fares would need to rise another 20% for his airline to break even this year.

As CNBC reported, when one airline raises fees, others tend to follow.

Earlier this month, JetBlue hiked its first-quarter outlook for operating revenue per seat mile to between 5% and 7%, saying that strong Q1 demand helped “partially offset additional expenses realized from operational disruptions and rising fuel costs.” Now, the carrier appears to be making moves to further boost revenue to offset those costs.

Earlier on Monday, JetBlue rival Alaska Air lowered its Q1 profit forecast. The refining margins for the carrier’s cheapest fuel option — sourced from Singapore and representing about 20% of Alaska’s overall supply — have spiked 400% since February.

JetBlue did not immediately respond to a request for comment.