Social gaming platform Rec Room, once valued at $3.5B, is shutting down

Rec Room, a Seattle-based social gaming platform, will shut down its service on June 1. The company was valued at $3.5 billion in December 2021 and had 150 million players and creators. Rec Room said high operating costs and broader gaming headwinds, including shifts in the VR market, made a path to profitability impossible.

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