How quickly did Steam make Gabe Newell rich?


Go back to the time 23 years ago, on tOn October 10, 1996, Gabe and another Microsoft employee, Mike Harrington, left the company to start a new business called Valve Corporation. Valve's debut product is Half-Life, the first-person shooter game developed on some code from Quake (acquired by Valve).

How quickly did Steam make Gabe Newell rich? - Picture 1.

In April 2000, Gabe acquired all of Mike Harrington's shares after he decided to leave the company. This move made Gabe the only boss and the most powerful person at Valve.

In September 2003, Steam was officially launched as a way for Valve to control the operation of the Counter-Strike game. In addition, the company also uses the platform to control fraud and provide easier access to other products.

By 2006, Steam's appearance had begun to take shape and complete. The concept of digital store was born and this is considered as a premise to form the following methods. With more than 100 games introduced with demos and HD videos, Steam became a true mecca for PC game fans.

How quickly did Steam make Gabe Newell rich? - Picture 2.

Right from the early years of his career, Gabe saw the great potential of the world gaming market. He could even realize that the release of a traditional game (physical version) would not be able to grow further as game volumes grew and game install discs could not meet the requirements. of the developer. Gabe Newell's vision is far ahead of the gaming industry, and it was his effort to make that vision a reality, creating the incredibly powerful Valve Corporation today.

For game publishers, Steam is a solution that allows them to optimize the profits earned. If they used to spend 60-70% of revenue on advertising and distribution (through traditional distributors), now this cost is only 25-30%. Even compared to Amazon (one of the world's largest e-commerce sites), Steam is much more flexible and efficient in the game retail market share. Satisfying the seller, satisfied buyers, this is one of the advantages that help Steam can "expand".

How quickly did Steam make Gabe Newell rich? - Picture 3.

In 2010, according to HIS Screen Digest, market analyst Ed Barton estimated Valve's annual sales could reach hundreds of millions of dollars. 2010 was also the year Valve achieved the highest growth ever with more than 200%.

As of 2016, Steam's online publishing portal has 125 million users (accounting for 70% of the computer game download market). Compared to other game publishing tools, Steam is really "unparalleled". With Steam, you can find most of today's most popular games.

According to Forbes, Valve's estimated value in 2016 reached approximately 8.5 billion USD (~ 200 trillion VND). This made Gabe's total assets increase from 2.2 to 4.2 billion USD in just one year. Valve's wealth, fame, success and dominance really made Gabe Newell the unrivaled king of the world gaming industry.


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