1. Rec Room Shuts Down: 150 Million Users, $3.5B Valuation Not Enough for Profitability
Rec Room, the social gaming platform once valued at $3.5 billion, is shutting down on June 1st. The closure comes despite the service amassing over 150 million players and creators, a stark admission that viral growth and a massive user base were insufficient to build a viable business. In a candid blog post, the compa...