Zynga puts San Francisco HQ up for saleÂ
Social casino developer purchased the building for $228m in 2012, now thought to be worth $500mÂ
Zynga has put its imposing San Francisco headquarters up for sale having slimmed down its workforce as part of a wider multi-million dollar cost saving scheme. [private]
Chief executive Mark Pincus first floated the idea to sell the building and take out a long term lease in a letter to investors earlier this month.
The firm purchased the office, which was once the US headquarters of gaming giant Sega, for $228m back in 2012, but is now thought to be worth in excess of $500m.
Zyngaâs transition to a mobile-focused developer has hit the firm hard, with full year 2015 profits down 54% despite a strong performance from its social games division.
Back in May last year the firm announced plans to axe 18% of its global workforce â around 350 people, in a bid to realize $45m in annual savings as part of a wider $100m cost reduction plan.
For the first quarter of 2016, Zynga expects revenues of up to $175m, bookings of up to $175 and an EBITDA loss of $10m.