When you’re hot, you’re hot. And 1047 Games is making the most of the heat generated by Splitgate, its first game and a now a breakout success. After working on a shoestring for years, the team has since May raised three rounds, the latest for a massive $100M.
Co-founder and CEO Ian Proulx credited a dedicated community and, as he described it, “taking a Silicon Valley approach to running a game business.”
At the time 1047 Games was founded, about 5 years ago, free to play (f2p) PC games were a niche genre. While games like World of Tanks and Warframe were seeing success, and of course many mobile games relying on in-app-purchases, Fortnite had yet to show the industry that f2p could be so ludicrously profitable.
“5 years ago it was very hit driven: you spend years developing a product, put all this money into hyping the launch, and then hope it’s a success,” Proulx explained. “Our process was, there’s no way we can take that risk — if we spent our entire budget and got it wrong, we’re out of business. So we thought, let’s do a soft launch, put it out there and see what happens, learn, listen, look …read more
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