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Gabe Newell makes Forbes Magazine’s “Names You Need to Know in 2011″ list

Saturday, 13th November 2010 18:02 GMT By Stephany Nunneley

gabenewell

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.

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9 Comments

  1. Virginityrocks

    <3 gabe.

    #1 4 years ago
  2. The_Deleted

    Big whoop… Kotick made the Book Of Revelations…

    #2 4 years ago
  3. Stephany Nunneley

    @2 OMG +10

    #3 4 years ago
  4. JPickford

    Inspirational. This guy is a genius.

    #4 4 years ago
  5. bpcgos

    cool, eat that Lazy “consolise Developer”! Only PC that will make you rich!

    #5 4 years ago
  6. back_up

    All Hard work made it possible.
    Half Life is best revolutionary FPS ever made.
    Dying for EP3 come on Gabe

    #6 4 years ago
  7. SwiftRanger

    “active users” is a bit of a stretch if you look at the stats which matter. It’s popular but could be even more popular if it wasn’t tied to DRM and a picky customer service.

    #7 4 years ago
  8. freedoms_stain

    @7, those are concurrent stats, they show you how many people are online at one particular time, not the total number of active users. In a 24 hour period there were never less than a million users online with a peak of 3 million. If the average user was on for 2 hours each then that’s a minimum of 12 million unique users in a day just using the baseline 1 million concurrent user stat.

    Basically you need more info than concurrent stats to make a call on active users.

    #8 4 years ago
  9. AHA-Lambda

    “It’s popular but could be even more popular if it wasn’t tied to DRM and a picky customer service.”

    eh, wut?

    anyway congrats to gabe :D

    #9 4 years ago

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