Rec Room Part II (with CEO Nick Fajt)
Last Acquired left the plucky Rec Room crew in our 2018 "Part I" episode, they were a seed stage startup making a VR game that users loved but grew slowly and barely monetized. Fast forward to today, and they're now a multi-platform social "place" with millions of active users, 500%+ YoY growth and hosting a robust creator economy that's rivaled only by their oft-compared metaverse cousin Roblox in dynamics and efficiency. And oh yeah, they're now a $1B+ company after a new $100m fundraise from existing investors Sequoia and Index, which they're announcing today. We figured it was high time to revisit Nick & crew for a Part II... If you love Acquired and want more, join our LP Community for access to over 50 LP-only episodes, monthly Zoom calls, and live access for big events like emergency pods and book club discussions with authors. We can't wait to see you there. Join here at: https://acquired.fm/lp/Sponsors:Pilot: https://bit.ly/acquiredpilot24Crusoe: https://bit.ly/acquiredcrusoeThe Rec Room Playbook is available on our website at https://www.acquired.fm/episodes/rec-room-part-ii-with-ceo-nick-fajtLinks:Our "Part I" episode with Nick on Rec Room's seed round: https://www.acquired.fm/episodes/season-2-episode-2raising-a-seed-round-with-against-gravity-ceo-nick-fajtRec Room! https://recroom.comCarve Outs:Invent and Wander: https://www.amazon.com/Invent-Wander-Collected-Writings-Introduction-ebook/dp/B08BCCT6MW/Resonant Arc on YouTube: https://www.youtube.com/channel/UCFzWAEPDGiY34bGpwM_DWmAHow The Economic Machine Works by Ray Dalio: https://www.youtube.com/watch?v=PHe0bXAIuk0