Newsreel [Oct 24th]: Zynga to reduce investment in Ville & close Zynga studio


Newsreel [Oct 24th]: Zynga to reduce investment in Ville & close Zynga studio

Here goes the Newsreel, our daily news roundup.

– Here’s the Apple video where Jony Ive shows off the iPad Mini. That is if you have not already over dosed on iPadmini.

– To fortify its footprint in European market, review and recommendation website Yelp has acquired its European rival Qype for $50 million, The acquisition would help Yelp to increase focus on Germany, the United Kingdom, France, Switzerland, Austria, Ireland, Poland, Spain and Italy. Currently, Yelp brings in more than two million reviews (adding to its 30 million submissions) from across 13 countries, read complete post here.

Recommended read:Yelp launching in India?

– In its latest poll on consumers and marketers’ views on online advertising –  Adobe has revealed that almost half of the overall respondents agree ‘online advertising is creepy and stalks you’, and more than half agree that ‘most marketing is a bunch of B.S.’. The poll also underlines the ongoing problem with online ads failing to capture people’s attention .Only in-app/in-game ads fared worse in the battle for consumers’ attention, with print-based ads and TV commercials grabbing far more consumer mindshare, read complete post here.

– Infibeam has announced the launch of it Wallet that works like a personal prepaid account allowing users to  make purchases without having to use credit card or net banking every time, read complete post here.

– European Commission can slap fine of $7.3 billion to Microsoft for its antitrust violations related to Internet Explorer and giving consumers a clear way to choose another browser when using Microsoft’s Windows operating system. According to European commission, the antitrust violation can attract  maximum penalty of $ 7.3 billion, 10% of the company’s annual turnover. In  2012?s annual revenues of Microsoft stood at $73 billion, read complete post here. This will be the first time Microsoft has had to deal with the Anti trust demon.

Zynga announced that it has cut its workforce, reduced investments in games like The Ville, and closed Zynga studios. Mark Pincus, CEO Zynga said that Zynga would cut 5% of the company’s workforce, reducing staff levels in Austin, and closed the Zynga Boston studio. He also said they would consider closing Zynga offices in Japan and the United Kingdom. Importantly, Zynga will be reporting its quarterly earnings on coming Wednesday, and Pincus said he would participate in a post-earnings webcast to discuss Zynga’s broader future, read complete post here. The company’s shares have taken a beating after Facebook said that earnings from Zynga have gone down significantly.

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