Gaming platform Rec Room valued at ₹32,900 crore to shut down, says 'Our costs were overwhelming'

Gaming platform Rec Room, which was once valued at $3.5 billion (over ₹32,900 crore), has announced that it will be shutting down from June 1. Despite having over 150 million users, the company stated that their costs always ended up "overwhelming" their revenue. "We never quite figured out how to make Rec Room a sustainably profitable business," it added.