When we first met Nick Fajt, Rec Room wasn’t even committed to a napkin yet. It was an idea, a vision, of a virtual Room of Requirement. It would be a place to play games, socialize with friends, and explore your creativity on an infinite, VR canvas. In that meeting and in all the discussions that followed, it was obvious to us how exciting the idea was and how special this company could be.
Our initial discussion took place in September 2016, and our investment shortly followed. Nick shortly realized that broad VR adoption was slower than anticipated. Recognizing the limitations this could impose on Rec Room's growth, Nick made the strategic decision to pivot the company toward a multi-platform approach. One of the things we love most in the founders we partner with is their ability to react to what the market is telling them. It is the knack for keeping to a vision while also responding to unexpected data that makes a great entrepreneur—Nick has that in spades.
This shift allowed Rec Room to expand its reach beyond virtual reality, becoming accessible on game consoles, mobile devices, and PC. By adapting to the evolving market landscape, Nick ensured that the digital world and community he envisioned could connect with a broader audience, thereby maximizing Rec Room's potential for success. The company has now served over 75 million players.
Nick's unique blend of vision, adaptability, and communication skills have been instrumental in Rec Room's success. Under his guidance, the company has evolved from an initial concept focused on virtual reality to a multi-platform digital world that allows players total freedom. As the company continues to add more players, we can’t wait to see what they build next.