Star Citizen Developers Valued at About $460 Million

Discussion in 'HardForum Tech News' started by AlphaAtlas, Dec 21, 2018.

  1. AlphaAtlas

    AlphaAtlas [H]ard|Gawd Staff Member

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    Yesteday, Cloud Imperium, the parent company of the developers behind Star Citizen, announced that Clive Kalder's family office and Snoot Entertainment paid $46 million for a ~10% stake in the company, which would put the total value of the Cloud Imperium at about $460 Million. The company reportedly has some of those funds earmarked for a Squadron 42 marketing campaign, as they want to use crowdfunded money for development and note that "having a AAA game that matches the biggest single player games out there only goes so far if no one knows about it." Cloud Imperium also launched a roadmap for Squadron 42's development, and announced a goal of starting the game's alpha and beta testing phase sometime in 2020. Thanks to Schtask for the tip

    As with our Persistent Universe roadmap, this is linked to our company’s internal JIRA tracking system, so you can see at a glance the work remaining to complete the game. It was a lot of work to make sure every remaining task was broken down in detail and estimated to the best of our ability, and the same caveats will apply to the Squadron 42 roadmap as they do to the PU one, but our plan is to be feature and content complete by the end of 2019, with the first 6 months of 2020 for Alpha (balance, optimization and polish) and then Beta.
     
  2. Tiberian

    Tiberian DILLIGAFuck

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  3. bigdogchris

    bigdogchris [H]ard as it Gets

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    Not a single sane person on this planet would pay $460 million for that mess.
     
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  4. piscian18

    piscian18 [H]ardForum Junkie

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    oh developers, I thought it said that was the price of the new ship skin.
     
  5. zamardii12

    zamardii12 2[H]4U

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    So Squadron 42 will be out around 2030?
     
  6. nubbin77

    nubbin77 Limp Gawd

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  7. :ROFLMAO::ROFLMAO::ROFLMAO::ROFLMAO::ROFLMAO::ROFLMAO::ROFLMAO::ROFLMAO::ROFLMAO::ROFLMAO::ROFLMAO::ROFLMAO::ROFLMAO::hilarious::hilarious::hilarious::hilarious::hilarious::hilarious::hilarious::hilarious::hilarious::hilarious::hilarious::hilarious:

    Bookmarking this so I can come back in 2020 and ask where the game is at.
     
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  8. filip

    filip [H]ard|Gawd

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    It's happening Chris Roberts is selling the game because he can't finish it. Or taking the scam to the next level by securing investment from investors, if he sells 100% stake then he has close to $1 billion. Not a bad scam.
     
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  9. Daarken

    Daarken [H]Lite

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    All the haters gonna hate.
    After the last update of Alpha 3.3 its surprising to see the amount of positive news, posts, and articles along with the fact that its base has grown even larger.
    The other big news is that Crytek got hit with a MTD on the lawsuit against CIG and only has a few days left to salvage it.
    Honestly, and unfortunately I suspect Crytek will be closing its doors in 2019.
     
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  10. FearTheCow

    FearTheCow [H]ardness Supreme

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    So someone did some rough math with with the financials CIG released, at the end of 2017 CIG had about $10 million left... so 6+ years and $200 million, and what is out now is the result..... lol.
     
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  11. SPARTAN VI

    SPARTAN VI [H]ardness Supreme

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    I find it a little odd that they name-drop their dev's project management system, JIRA, like that. I imagine most folks who work in IT near developers are also aware of JIRA.... But normally you wouldn't want the unwashed masses to have any knowledge of behind-the-scenes systems, as it can be used against you (e.g. spear phishing posing as JIRA staff). I wonder if that risk outweighed their desire to appear more transparent or legitimate in the general public's eyes; there's no doubt they're aware of the "SC is a scam" accusations leveled at them.
     
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  12. SomeoneElse

    SomeoneElse [H]ard|Gawd

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    8 year development cycle......:eek:
     
  13. NoOther

    NoOther [H]ardness Supreme

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    Seems plausible as this is a valuation for the talent in the dev team, not in the management of the company or the game itself.

    Considering people know the development platforms they are using, the engines they are using, they have blogs on what they are doing, etc. Companies don't care that people know what tools they are using. Companies generally don't care if people know how they are configuring their internal systems. Also, companies like Atlassian regularly advertise and market their product using examples of companies and projects their software is in.
     
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  14. PeaKr

    PeaKr Gawd

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    Dog and pony show.
     
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  15. Dekoth-E-

    Dekoth-E- [H]ardness Supreme

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    Delusional Fanboys gonna defend. Sorry to pop your reality distortion bubble, but it isn't hating for the sake of hating. It is called being able to see blatant mismanagement and fleecing for what it is
     
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  16. oldmanbal

    oldmanbal 2[H]4U

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    People wouldn't keep dumping money into the game if they weren't having a good time. What's your gripe? Did you lose money on a game investment?
     
  17. ChoGGi

    ChoGGi [H]ard|Gawd

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    That can't be alpha 3.3, since the article says the alpha is out in the first 6 months of 2020 for Alpha.

    /s
     
  18. TheOne&OnlyZeke

    TheOne&OnlyZeke 100% Irish

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    No Star Citizen thread on this forum will fail to be flamed by the haters

    I'm one of them....Fuck this company and this "game"

    They are out to screw everyone

    :D

    I feel better
     
  19. gunbust3r

    gunbust3r Gawd

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    I hope they add some other abandoned project like developing Project Ara (Phoneblocks) into the mix with all the loot they keep getting. That should add another 4 years of jerk off design challenges before inevitable failure.
     
  20. Azphira

    Azphira [H]ard|Gawd

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  21. mashie

    mashie Mawd Gawd

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    So what ship bundle did Snoot Entertainment receive for that $10 million?
     
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  22. SPARTAN VI

    SPARTAN VI [H]ardness Supreme

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    Development platform, engine, etc. that's all front end (in terms of the output is what the customer sees and not exactly secret). I know my company is very protective of what information we divulge regarding our in-house vs vendor-sourced technologies, especially when it comes to our vendor's applications. In my industry (finance) you'd think it's because of security concerns, but it's actually because it gives the appearance to customers that we're not in control or fully responsible for our own technology. I understand that our case may be the exception, not the rule.

    (edit) Not going to reply again to discuss semantics.
     
    Last edited: Dec 21, 2018
  23. Axehandler

    Axehandler Gawd

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    Squadron 42 is set to be alpha in 2020.
     
  24. Master_shake_

    Master_shake_ [H]ardForum Junkie

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    this is going to be in text books on how to fleece your customer base.
     
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  25. Ritorix

    Ritorix [H]ard|Gawd

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    call it the Titanic pack
     
  26. Krazy925

    Krazy925 2[H]4U

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    Someone told me here that Star Citizen will be out in full in 2020. LOL I wouldn’t hold my breath.
     
  27. NoOther

    NoOther [H]ardness Supreme

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    Umm, development platforms are not front end, those are backend. Front end are the general business systems. I can see being protective of proprietary systems, but not common use platforms like JIRA. There is nothing about JIRA that needs to be kept secret or hidden.
     
  28. RobCalleg

    RobCalleg Limp Gawd

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    Imagine still defending this game because bought a 100 dollar ship three years ago. Just give up already, 100 bucks over 3 years is not worth defending. Take the L.
     
  29. Lizard Testes

    Lizard Testes Gawd

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    That's not what they're valuing. They're valuing Chris Roberts ongoing ability to fleece nerds.
     
  30. ole-m

    ole-m Limp Gawd

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    This game feels more and more like a scam...
     
  31. DNMock

    DNMock Limp Gawd

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    This thing? Still?

    I got it as a free game along my with purchase of a 290X...
     
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  32. Galvin

    Galvin 2[H]4U

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    This reminds me of alt coins in the crypto market. People dump millions hoping for a return
     
  33. LightsOut41

    LightsOut41 Limp Gawd

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    Actually they are mentally broken and extremely deep into Sunk Cost Fallacy and Cognitive Dissonance.
     
  34. Cr4ckm0nk3y

    Cr4ckm0nk3y Gawd

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    2020??? Who the fuck is putting a valuation on this company?

    Also with all the money they have crowdfunded ($210M+) why do they need an additional $46M from a private equity group? Why is Roberts needing more money every 2-3 years? Especially now going to private equity firms when in 2013 he said no need for private investment.

    All signs point to bad!
     
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  35. LightsOut41

    LightsOut41 Limp Gawd

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    Yep. "We keep a healthy cash reserve so that if funding stopped tomorrow we would still be able to deliver Star Citizen (not quite to the current level of ambition, but well above what was planned in Oct 2012).".......Chris Roberts upon raising $55M on Sept 30th, 2014.
     
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  36. Dayaks

    Dayaks [H]ardness Supreme

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    I thought this was crowd funded so he wouldn’t have to report to anyone and do it right? What is this crap?
     
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  37. DNMock

    DNMock Limp Gawd

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    A company with no proven history gobbles down GTA V levels of production costs and there are still people who think this isn't a scam?

    the 210 + 46 puts Star Citizen within 10 million of the largest production cost title of all time...
     
  38. Lizard Testes

    Lizard Testes Gawd

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    I gave Chris Robberts thousands of dollars so that he and his wife could buy Porsches and take Mediterranean vacations, not so some venture capitalist asshole could swoop in at the last minute and steal part of the action.
     
  39. ChadD

    ChadD [H]ardness Supreme

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    Its funny the first pitch was... give me money and the investors will see the value and swoop in to finish things.

    That has no officially become.... give me 200 or so million dollars to employee myself my wife my brother and all my other friends for the next 7 or 8 years, I'll get a company valued at 500 mil for nothing and then the investors will swoop in to provide marketing.

    lol

    That this investor is another scam movie studio run by some south african rich kid clearly spending the cookie his pops gives him... while likely sheltering a bit of taxable income for him. Is just the icing on the cake. I wonder how long i will be before this Roberts movie investor ends up in a jail cell. The last big movie investment firm Roberts dealt with it was around year 4 or 5 of their partnership.
     
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  40. ChadD

    ChadD [H]ardness Supreme

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    I would say its already surpassed that mark. All the other titles with 100m+ budgets are counting marketing funds in the cost of production. It would seem based on this... Roberts hasn't spent anything on real marketing yet.
     
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