Zynga and Groupon: More Social Media Management Departures (GRPN, ZNGA)

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
These struggling social media players are looking more and more silly by the day. Over the weekend came news that Zynga Inc. (NASDAQ: ZNGA) was losing its cloud technology expert, Allan Leinwand, as he is leaving to go join a firm called ServiceNow Inc. (NYSE: NOW) according to AllThingsD. News is out from Groupon Inc. (NASDAQ: GRPN) that effective immediately Brian Stevens will assume the role of chief accounting officer.

Groupon noted:

Stevens will report to Jason Child, Chief Financial Officer. Joe Del Preto will continue to operate in his role as VP and Global Controller, reporting to Stevens. Stevens has extensive accounting experience. Prior to joining Groupon, Mr. Stevens spent 16 years with KPMG LLP, most recently as an audit partner from October 2007 through August 2012.

Stevens has a B.S. in Accountancy from the University of Illinois at Urbana-Champaign, College of Business. Maybe this instance is just a partial departure.

No one seems to care about the Groupon news very much, at least so far, about the Groupon departure as this may be only considered a partial departure. Groupon shares opened at $4.28 after closing at $4.26 on Friday. The shares are currently at $4.29 on the day. Its post-IPO range has been $4.00 to $31.14.

Zynga shares are down 2% at $2.82 so far this Monday, and the post-IPO trading range has been $2.66 to $15.91.

JON C. OGG

Contact [email protected] for any questions or corrections.

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

Continue Reading

Top Gaining Stocks

CPRT Vol: 17,358,449
AMD
AMD Vol: 25,570,334
Fox
FOX Vol: 1,069,104
STX Vol: 5,246,750
Fox
FOXA Vol: 7,501,474

Top Losing Stocks

CTRA Vol: 73,319,495
AVGO Vol: 29,513,308
GDDY Vol: 2,085,032
AMAT Vol: 13,132,341
CRWD Vol: 6,750,293