Xsolla

Last updated

Xsolla
Formerly2Pay
Company type Private
Industry Fintech
Founded2005;19 years ago (2005) in Perm, Russia
Founder Aleksandr Agapitov
Headquarters
Sherman Oaks, Los Angeles, California
,
U.S.
Area served
Global
Key people
  • Aleksandr Agapitov (founder, CEO)
  • David Stelzer (President)
  • Chris Hewish (CSO)
Number of employees
500 (2022)
Website xsolla.com

Xsolla is an American financial technology company that makes payment software for video games. It was founded in 2005 in Perm, Russia, by Aleksandr Agapitov. As of 2022, it had 500 employees. [1] The company's core product is Pay Station, a suite of tools for integrating payment systems. [2] It can be used to accept more than 700 payment types in more than 200 countries. [3] Xsolla software was used in approximately 2,000 video games in 2021 and the company had revenues of approximately US$100 million.

Contents

History

Xsolla was founded in 2005 by Aleksandr Agapitov as 2Pay in Perm, Russia. The company moved its headquarters to Los Angeles, California, in 2010, and was renamed Xsolla the following year. [4] [5] The firm added support for Russian gamers to use cash kiosks to add funds to their Steam accounts using physical currency in 2011, and partnered with ZipZap in 2012 to accept new payments from those without bank accounts. [6] [7]

In 2021, it announced plans to lay off 150 employees following the company's use of artificial intelligence to analyze employee work habits. Agapitov made multiple statements about the layoffs that were received poorly by the public and the press. [8] [9]

Agapitov left the company in 2022 and Konstantin Golubitsky was named his replacement in February the same year. [1] [8] [9]

The company made a series of acquisitions in the 2020s, including data visualization firm Slemma in 2021 and AcceleratXR, a server technology provider for live service games in 2023. [10] [11]

Ukrainian Minister of Digital Transformation Mykhailo Fedorov called for a boycott of the company that year due to the company continuing to do business in Russia following the Russian invasion of Ukraine. Xsolla leadership said its partners were aware of its operations in Russia and that it would continue to operate in the country while its partners chose to serve Russian gamers. [12] The same year, former Xsolla global accounting vice president Emil Aliyex sued the company for wrongful termination and retaliation against a whistleblower, alleging he was fired after he reported to his superiors that the company had mishandled US$40 million. Xsolla denied the allegations. [13]

Pocket Gamer named Xsolla "Best Service Provider" at its 2022 Mobile Game Awards. [14]

The firm published its first State of Play report in 2023, an analysis of the video game industry. [15]

Agapitov returned as CEO in February 2024 following two years away from the company. [9] [16]

Bloomberg reported in 2024 Aleksandr Agapitov transferred over $100 million from company accounts to personal accounts and back. Following this, there were wrongful termination lawsuits from employees who raised concerns. These cases were either settled or dismissed with prejudice. [17]

Products

Xsolla products were used by 300 game publishers, including Valve Corporation, Gameforge, and Wargaming by 2012 [7] and by 2021, its software was used by 1,500 game companies on more than 2,000 games. [18] [19]

Xsolla Accelerator was launched in 2022 as a program for indie game developers that provides funding for early-stage companies as well as educational programs, and liquidated the parent company of its Russian division, Xsolla Russian Holding LLC. Xsola also updated its Pay Station software in 2022 to allow for easier creation of web shops and raising funds through startup accelerators; and Xsolla Payouts, a system providing payments to content creators. The Payouts update streamlined the payment process. [3] [4] By August 2022, Xsolla Pay Station was used by 1,000 game developers. [3] Xsolla launched new partnerships with Alipay and Adikteev in 2022. [20] [21]

In 2023, Xsolla launched Headless Checkout, software that allows game developers to create custom storefronts in games, and integrated it with Pay Station. [22] It partnered with AppsFlyer to integrate cross-platform analytics into its products and with Mastercard to allow for the use of credit card reward points as a payment method. [23] [24]

In 2024, Xsolla launched Xsolla Wallet, a simplified way to monetize games, partnered with MTN Group and Bharti Airtel to add additional payment options in Africa and PayPay to increase options in Japan, and partnered with analytics company GameAnalytics to integrate its software with Xsolla's web shops. [25] [26] [27] It launched Cross Play, Cross Pay that year as well, which allows game developers to more easily move their games between platforms while accepting payments. [27]

With Curine Ventures, Xsolla opened the Xsolla Curine Academy in Kuala Lumpur in 2024. The academy offers classes for game developers including project management, game design, and graphic art. [28]

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References

  1. 1 2 Takahashi, Dean (February 2, 2022). "Xsolla appoints Konstantin Golubitsky as CEO". GamesBeat. Retrieved June 26, 2024.
  2. ↑ Takahashi, Dean (June 6, 2018). "Xsolla opens one-stop shop for game developers to monetize and grow globally". GamesBeat. Retrieved June 25, 2024.
  3. 1 2 3 Takahashi, Dean (August 1, 2022). "Xsolla's Pay Station update adds web shops, streamlined payments and a startup accelerator". GamesBeat. Retrieved June 18, 2024.
  4. 1 2 Artemova, Ekaterina (June 8, 2022). "Xsolla liquidates the parent company of the Russian division". Kommersant (in Russian). Retrieved June 18, 2024.
  5. ↑ "Farewell 2pay, Greetings to Xsolla" (Press release). Tarzana, CA: PRWeb. October 5, 2010. Archived from the original on January 30, 2012. Retrieved June 27, 2024.
  6. ↑ Winchester, Henry (October 24, 2011). "Valve and Xsolla add Steam Wallet support to Russian cash kiosks". PC Gamer. Retrieved June 26, 2024.
  7. 1 2 Bush, Joe (January 30, 2012). "In ZipZap Fashion, Gaming-Payments Market Growing". American Banker. Retrieved June 25, 2024.
  8. 1 2 Gach, Ethan (August 6, 2021). "Game Payment Company CEO Sounds Like An Asshole". Kotaku. Retrieved June 25, 2024.
  9. 1 2 3 Griffiths, Daniel (February 14, 2024). "Leadership reshuffles at Xsolla put the company's founder back in the hot seat". Pocket Gamer. Retrieved June 25, 2024.
  10. ↑ Biswas, Tousif (April 22, 2021). "Xsolla acquires data viz outfit Slemma". Pocket Gamer. Retrieved June 25, 2024.
  11. ↑ Rees, Lewis (September 27, 2023). "Xsolla announces acquisition of multiplayer platform AcceleratXR". Pocket Gamer. Retrieved June 25, 2024.
  12. ↑ Kerr, Chris (November 3, 2023). "Ukraine calls for boycott of game payment firm Xsolla over Russian operations". Game Developer. Retrieved June 25, 2024. Moving forward, Hewish said Xsolla will continue to facilitate transactions in Russia if its clients choose to serve players in the region. He added that all of its partners are aware of Xsolla's operations in Russia.
  13. ↑ Takahashi, Dean (November 29, 2023). "Ex-Xsolla exec files whistleblower lawsuit against payment firm over alleged financial crimes". GamesBeat. Retrieved June 25, 2024.
  14. ↑ Astle, Aaron (April 20, 2023). "1 great night, 22 winners: The Mobile Game Awards reveals 2023's mobile standouts". Pocket Gamer. Retrieved June 25, 2024.
  15. ↑ Takahashi, Dean (November 2, 2023). "Xsolla evaluates gaming's future in State of Play report". GamesBeat. Retrieved June 25, 2024.
  16. ↑ Takahashi, Dean (February 14, 2024). "Xsolla announces leadership changes for the next stage of gaming growth". GamesBeat. Retrieved June 26, 2024.
  17. ↑ D'Anastasio, Cecilia; Nicoletti, Leonardo (August 27, 2024). "Xsolla's CEO Spends Like a Billionaire on Back of Company Cash". Bloomberg.com. Retrieved September 5, 2024.
  18. ↑ Takahashi, Dean (January 26, 2021). "Xsolla launches commerce to take mobile games beyond the app stores". GamesBeat. Retrieved June 25, 2024.
  19. ↑ Carpenter, Scott (April 18, 2022). "Video Game Junkie Quietly Builds $3 Billion Payments Powerhouse". Bloomberg News. Retrieved June 18, 2024.
  20. ↑ Morris, Iwan (October 25, 2022). "Xsolla integrates Alipay support for game monetization across Asia". Pocket Gamer. Retrieved June 18, 2024.
  21. ↑ Rees, Lewis (August 11, 2022). "Xsolla partners with Adikteev to accelerate game monetisation". Pocket Gamer. Retrieved June 25, 2024.
  22. ↑ Rees, Lewis (September 27, 2023). "Xsolla unveils its new payment system Headless Checkout". Pocket Gamer. Retrieved June 26, 2024.
  23. ↑ Rees, Lewis (August 10, 2023). "Xsolla partners with AppsFlyer to streamline cross-platform data-driven insights". Pocket Gamer. Retrieved June 26, 2024.
  24. ↑ Torres, Destiny (February 27, 2023). "Xsolla Signs Deal with Mastercard". San Fernando Valley business Journal. Retrieved June 25, 2024.
  25. ↑ Muhammad, Isa (March 20, 2024). "GameAnalytics and Xsolla team up to simplify direct-to-consumer game sales". Pocket Gamer. Retrieved June 25, 2024.
  26. ↑ Takahashi, Dean (March 7, 2024). "Xsolla debuts Xsolla Wallet and takes game payments to Africa". GamesBeat. Retrieved June 25, 2024.
  27. 1 2 Takahashi, Dean (March 6, 2024). "Xsolla unveils crossplay and crosspay strategy for monetizing mobile games". GamesBeat. Retrieved June 25, 2024.
  28. ↑ Takahashi, Dean (April 18, 2024). "Xsolla and Curine Ventures launch academy for game ecosystem in Kuala Lumpur". GamesBeat. Retrieved June 26, 2024.
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