Analysis: Internet stock collapse dents Silicon Valley
SAN FRANCISCO (Reuters) – Social media companies, once hailed by their Silicon Valley boosters as world-changing businesses with limitless potential, are instead proving a sobering reminder of how investors can be seduced by Internet hype. With a few exceptions, the first wave of social media firms to trade on the public markets has delivered a disastrous performance that conjures memories of the dot-com bust of 2000. “Farmville” publisher Zynga, which went public in December at a valuation of $ 7 billion, is trading around $ 3.15 a share, more than 68 percent off its $ 10 IPO price. …
Gaming News Headlines – Yahoo! News
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on Aug 5 2012. Filed under GAMES.
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