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Rec Room Raises $100M as Social Gaming Surges Amid the Pandemic
Rec Room Raises $100M as Social Gaming Surges Amid the Pandemic. The Seattle-based startup is now valued at $1.25 billion as online social gatherings and gaming surged during the COVID-19 pandemic.
Published on March 25, 2021
Rec Room Raises $100M as Social Gaming Surges Amid the Pandemic
Rec Room Raises $100M as Social Gaming Surges Amid the Pandemic.
Rec Room has raised $100 million in new funding. The Seattle-based startup is now valued at $1.25 billion as online social gatherings and gaming surged during the COVID-19 pandemic.
The $100 million included prior Rec Room investors : Sequoia Capital, Index Ventures, and Madrona Venture Group.
What is Rec Room ?
Rec Room is a virtual reality (VR) online game and a game creation system developed by Rec Room Inc (Co-founded in 2016). It is currently available and can be played on Microsoft Windows, Playstation, Oculus, iOS, Xbos, and soon to be provided for Android. The virtual reality platform has attracted in total 15 million lifetime users with content created by over 2 million users.
How does it work ?
Rec room is a platform that is free for everyone to download. The platform provides users with a collection of tools that enables them to create virtual rooms, objects, games such as laser tag. The platform also has a growing community created content that users get to enjoy and try.
The targeted audience are teenagers (13-to- 16 years old) which is a slightly older audience demographic than Roblox which is 9 to 12 years old. Having said that, the possibilities of social gatherings and virtual experiences can vary from digital hangouts to creative online classes, office meetings, to even family reunions!
I was also happy to notice that Rec Room website has the Kidsafe seal on their website for all the concerned parents.
The virtual reality platform has attracted in total 15 million lifetime users with content created by over 2 million users.
Gaming shaping the future of social interaction
As the world went into lockdown due to the pandemic, social gatherings and social gaming has surged to compensate for the lost human-to-human connection and I think they are here to stay not just as social gathering platforms but as potential careers.
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