The once great Zynga has been on the decline for quite some time now, but their company value is now less than the office building they are housed in. Zynga owns the $540 Million dollar building their offices are in, and somehow still have a $1.5 Billion dollar cash reserve, while the company is estimated to be worth $500 Million. The assets and value of the company are nothing to laugh at, however, it is far less than a few years back when Zynga was on top of the world. Medium has the full story.
After a long spate of difficulties with its product strategy and business model, the gaming company Zynga, once a Silicon Valley powerhouse, is now worth less than the office building in which it resides.
Zynga bought its current headquarters, a massive 668,000 square foot, seven-story building at 8th and Townsend streets, for $228 million in 2012. After falling on tough times, Zynga put its headquarters up for sale in February of this year, but the building’s value has been undisclosed until now.