July 20, 2017 1:44 PM ET

Internet Software and Services

Company Overview of Valve Corporation

Company Overview

Valve Corporation, an entertainment software and technology company, operates a game platform that distributes and manages various games to a community of players around the world. It also operates a social entertainment platform that enables users to buy, play, share, modify, and build communities around Valve products, as well as titles from other independent game studios; and online gaming platforms. In addition, the company offers animation and modeling, audio production, design and illustration, education, game development, photo editing, utilities, video production, and Web publishing software solutions; and hardware products. Valve Corporation was founded in 1996 and is based in Belle...

10500 NE 8th Street

Suite 1000

Bellevue, WA 98004-4345

United States

Founded in 1996

Phone:

425-450-4464

Fax:

425-827-4843

Key Executives for Valve Corporation

Founder, President and Managing Director
Chief Operating Officer
Director of Business Development and Legal Affairs
Director of Café Operations
Vice President of Marketing
Compensation as of Fiscal Year 2017.

Valve Corporation Key Developments

Valve Corporation to Pay $3 Million in Penalties for Misrepresenting Gamers' Consumer Guarantee Rights

On 23 December 2016 the Federal Court ordered Valve Corporation (Valve) to pay penalties totaling $3 million for breaching the Australian Consumer Law. In March 2016, the Court found that Valve had breached the Australian Consumer Law by making false or misleading representations to consumers in relation to its online gaming platform, Steam. The Court held that the terms and conditions in the Steam subscriber agreements, and Steam's refund policies, included false or misleading representations about consumers' rights to obtain a refund for games if they were not of acceptable quality. The Court has also ordered Valve to: publish information on Australian consumer rights on their website for 12 months, implement a consumer compliance program for their system and staff, and not make any similar representations to Australian consumers for three years.

Valve Corporation and Lionsgate Forms Partnership

Valve Corporation and Lionsgate have formed a partnership under which Lionsgate has become one of the first major studios to license films to Valve's popular Steam digital distribution platform. The deal reflects Lionsgate's commitment to monetize its content across an expanding array of digital platforms by offering its movies, television programming and digital content to online audiences around the world. The partnership will launch with over 100 Lionsgate feature films available to Steam customers, including movies from the Company's blockbuster Hunger Games, Twilight, Saw and Divergent franchises. More titles will be added as the partnership continues to expand worldwide.

Steam Platform Accepts Local Payments in Colombia and Peru through UOL BoaCompra

UOL BoaCompra, and VALVE Corporation and Steam announced that UOL BoaCompra will support local currencies and payment options available on Steam in both Colombia and Peru. A staggering 90% of those online in Colombia and Peru do not have access to international credit cards to make purchases online, as these markets are still cash-based countries. UOL BoaCompra's portfolio of local payment options in these markets offers full payment coverage, including Efecty, PayVálidda, Baloto, PSE and Safetypay in Colombia, and PagoEfectivo, BCP, BBVA Continental, PayVálidda and Safetypay in Peru.

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