San Francisco, September 10 (Reuters)--Jeff Kap, its chief marketing officer, has resigned as one of the latest executives to leave the troubled company, according to a paper submitted to the Securities and Exchange Commission by ZYNGA10 Day, a social gaming company.
Zynga did not disclose the specific reasons for his departure, saying only that the team headed by Karp had moved to other parts of the company. This means that no one will take the job of Karp.
Before carp, Zynga chief operating officer John Chapetre and chief creative officer Maik Verdoux had left.
Zynga traded 10 dollars a share last December, with its share price reaching $16 a year in March. But its shares began to "fall" after the July announcement of Better-than-expected results, falling to $2.82 a share on 10th.
While some companies such as Facebook and Zynga are in trouble, analysts say Silicon Valley is still full of investment opportunities. According to the National Venture Capital Association, venture capital inflows to Silicon Valley increased by 4% per cent in April-June this year, while venture capital across the country fell by 12% per cent over the same period.