Grinding Gear Games
June 9, 2021
Grinding Gear Games was founded in 2006 in Auckland, New Zealand. The company states that its founding members come from various countries and backgrounds.
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. 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.The company is now 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 80% of the company’s shares. The three co-founders hold the remaining 20%. Two of the co-founders also sit on the board of directors, alongside 3 appointed by Tencent in April of 2018.