Social gaming platform Rec Room, once valued at $3.5B, is shutting down
ThinkingNews Desk · how this was written
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.
Written from all 3 reports below, not from any single one.
How it was reported
- TechMeme·Social gaming startup Rec Room is shutting down its service on June 1, saying it could not find a path to profitability; it was valued at $3.5B in December 2021 (Todd Bishop/GeekWire)
Rec Room, a Seattle-based social gaming company, is shutting down on June 1. It was valued at $3.5 billion in December 2021. The company could not find a path to profitability.
- The Verge·150 million users later, Roblox competitor Rec Room is shutting down
Rec Room, a social gaming platform, is shutting down on June 1st. It had 150 million players and creators, but high costs outweighed revenue. The company cites the shift in the VR market and broader gaming headwinds as factors in its decision.
- TechCrunch·Social gaming platform Rec Room, once valued at $3.5B, is shutting down