Tuesday, July 29, 2014

Valve Corporation Goes Bankrupt

BELLEVUE, WASeattle based video game company 'Valve' has been forced to file for bankruptcy following their 6th consecutive quarter without any profit. The lack of profit has been heavily attributed by many to their flagship game, DOTA2, which earns no revenue whatsoever.

"DOTA2 uses the free-to-play model", Eric Johnson, now homeless, said in an interview. "This means that while operating costs go into managing the game, we don't actually make any revenue let alone profit from the game's success". The news came to a surprise to many gamers who had just finished watching Valve's 4th annual "The International" competition, which was hailed as a success. Still, other gamers, particularly those on Reddit, said they saw it coming. "Valve let all of us play their game DOTA2 for free, we should thank them for their longstanding charity", one user wrote.

Former Valve CEO and internet playboy Gabe Newell showed deep regret for not selling DOTA2 in stores.

Gabe Newell, former CEO of Valve and now part-time mall Santa stated in an interview that, "we all knew that this day was coming eventually, we just hoped it wouldn't have come so soon". Unlike other games which are sold in stores for money, DOTA2 can be downloaded online for free, eliminating any means for the Seattle based company to earn any revenue whatsoever. 

Although the company had recently hosted a tournament with a prize pool grossing over 10 million US dollars, none of the money raised by the fans ever reached Valve themselves, putting a further strain on the company's funds. Valve is not the only company affected, however, as other, equally unsuccessful games such as League of Legends have also reported massive losses in the past years due to their charity-style business model and are expected to go bankrupt by the end of the year.


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