Games

Why Zynga sold its home to fund its future

Farmville graphic
Image: Zynga

Although it's certainly a luxury to own a home in the Bay Area, Zynga CEO Frank Gibeau said it was better for the casual-game maker to sell its prime San Francisco headquarters and use the money to fund acquisitions.

Why it matters: The money raised from the sale, combined with the proceeds of a convertible bond offering, gives the company $1.4 billion in cash.

Niantic's Harry Potter-size step into an augmented reality future

In this image, Tiffany Haddish stands outside on stage with the poster for Wizards Unite behind her.
Tiffany Haddish speaks at the Harry Potter: Wizards Unite Celebration Event on June 18, 2019. Photo: Joe Scarnici/Getty Images for WB Games

This week's release of "Harry Potter: Wizards Unite" isn't just the debut of a highly anticipated mobile game: it's also a glimpse into the future of augmented reality and location-based gaming.

Why it matters: This gives Niantic, which also is the San Francisco-based creator of "Ingress" and "Pokemon Go," a chance to show how it can work with partners — and begin to turn the game system it has created into a platform others companies can build upon.