Grinding Gear Games

Last updated

Grinding Gear Games
Company typeSubsidiary
Industry Video games
Founded2006
Founders
  • Chris Wilson
  • Jonathan Rogers
  • Erik Olofsson
  • Brian Weissman
Headquarters Auckland, New Zealand
Key people
Chris Wilson (Managing Director)
Jonathan Rogers (Technical Director)
Erik Olofsson (Art Director)
Brian Weissman (Executive Producer)
Products
Parent Tencent [1]
Website www.grindinggear.com

Grinding Gear Games is a New Zealand video game developer founded in 2006 and based in Auckland. A former independent developer, the studio was acquired by Chinese tech company Tencent in May 2018, after the Chinese company had published the studio's sole title, Path of Exile , in mainland China. [2] The open-beta build of Path of Exile was released worldwide in January 2013 [3] and the 1.0 version of the game was released in October 2013. [4]

Contents

History

Grinding Gear Games games was founded in 2006 in Auckland, New Zealand. The company states that its founding members come from various countries and backgrounds. [5] [ non-primary source needed ]

GGG developed Path of Exile , which was released on 23 October 2013. During the open beta, from 23 January 2013 to release, more than 46,000 people participated. [6] GGG crowd funded Path of Exile through allowing users to pre-purchase in-game microtransactions ahead of the games launch date. In only 6 days, GGG was able to raise over $245,000. [7] The company then began focusing on releasing for more platforms, more regions, and on creating cosmetic items available for purchase through microtransactions.

In 2018, Tencent became a majority holder in GGG, acquiring 86.67% of the company's shares. Three of the co-founders hold the remaining 13.3%. Two of the co-founders also sit on the board of directors, alongside 3 appointed by Tencent in April 2018. [8] In March 2024, the remaining three co-founders sold their remaining shares to Tencent, which made the company the sole owner. [9]

Games developed

YearTitlePlatform(s)
2013 Path of Exile Microsoft Windows, PlayStation 4, Xbox One, macOS
2024 Path of Exile 2 Windows, PlayStation 5, Xbox Series X/S

References

  1. ↑ "Shareholdings, [as of 27 March 2023]". app.companiesoffice.govt.nz.
  2. ↑ "Internet giant Tencent Holdings acquires majority in Kiwi gaming firm Grinding Gear Games". The New Zealand Herald . 21 May 2018. Retrieved 21 May 2018.
  3. ↑ "Path of Exile Enters Open Beta". IGN.com. 24 January 2013. Retrieved 21 May 2018.
  4. ↑ "Path of Exile 1.0, Steam, and sweet, sweet revenge". engadget.com. 4 October 2013. Retrieved 21 May 2018.
  5. ↑ "Grinding Gear Games". Grinding Gear Games. 5 May 2012. Retrieved 5 May 2012.
  6. ↑ "Kiwi RPG Path of Exile secures US$200,000 in crowdfunding". Gameplanet. 11 April 2012. Archived from the original on 19 April 2012. Retrieved 15 May 2012.
  7. ↑ "NZ game Path of Exile crowd-funds $245,000 in six days". PCWorld. 11 April 2012. Archived from the original on 5 May 2012. Retrieved 5 May 2012.
  8. ↑ "Directors".
  9. ↑ "SoldShares".
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