[IGZ Bot]

With the walls closing in, Zynga announced CityVille 2 is in closed beta. The company couldn't share any info but to say it "delivers a truly social and visually rich city building experience." It will launch soon. Not that investors seem to currently care.

As the LA Times notes, Zynga's combined cash, securities and real estate assets are currently worth about $2.46 a share, according to analysts. But, its stock is currently trading below that price (as of this writing: $2.43), which means the company's games business is essentially worth "nothing."

These dark tidings come as brothers Paul and David Bettner, known for Words with Friends, leave Zynga. This is on top of so many high-profile departures we'd be bombarding you every other day with a post, but let's just close this off by saying some milestone moments were the departures of chief creative officer Mike Verdu, chief operating officer John Schappert and Draw Something studio OMGPOP's Wilson Kriegel.

Forbes points out Zynga is one of the worst performing stocks of the years, down 74 percent, making it one the worst-performing stocks among U.S. companies with market caps over a billion dollars. And, to think, when Zynga went public in December last year everything looked like it was going to be sunshine and lollipops... oh, wait, no it didn't.Zynga's business valued at 'nothing'; CityVille 2 'coming soon' originally appeared on Joystiq on Tue, 09 Oct 2012 09:00:00 EST. Please see our terms for use of feeds.




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