Sat, Nov 13, 2010 | 18:03 GMT
Gabe Newell makes Forbes Magazine’s “Names You Need to Know in 2011″ list
Valve bossman Gabe Newell’s moniker has been dubbed by Forbes Magazine as one of the “Names You Need to Know in 2011″, and the reason has everything to do with Steam.
According to Forbes, it estimated back in 2005 Valve was poised to surpass $70 million in revenue at the end of 2005 with doing $55 million in operating profit; therefore, the magazine estimates the firm has reached the hundreds of millions point some five years later.
This year, according to Newell, Steam is expected to have its biggest year ever in terms of sales. The firm has seen a growth of more than 200 percent in sales in the last 12 months alone.
Industry estimates have Steam accounting for 70 percent of the digital distribution market,with 1,200 PC and Mac game titles available, and 30 million active users who have the ability to promote and sell mods.
Newell was a former “Microsoft millionaire” who left the firm to form Valve in 1996 with Mike Harrington, also a former Microsoft employee.