28 Facts About GameStop

GameStop was founded in Dallas in 1984 as Babbage's, and took on its current name in 1999.

GameStop received significant media attention during January and February 2021 due to the volatility of its stock price and the GameStop short squeeze.

GameStop was named after Charles Babbage and opened its first store in Dallas's NorthPark Center with the help of Ross Perot, an early investor in the company.

GameStop quickly began to focus on video game sales for the then-dominant Atari 2600.

GameStop founded MovieStop in 2004 as a standalone store that focused on new and used movies.

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GameStop replaced Daniel DeMatteo who was named executive chairman of the company.

In February 2017, it was revealed that GameStop enforced, on all of its retail employees, a program known as Circle of Life.

Later that month, GameStop reformed the program to solely focus on the store as a whole instead of the previous individual employee basis, though still maintaining a heavy emphasis on the individuals' performance to maintain strong store metrics.

In late June 2018, GameStop confirmed talks of a possible sale, with Sycamore Partners, a private equity firm, the most likely buyer, with a target deal expected by February 2019.

However, on January 29,2019, GameStop reported it had stopped looking for a buyer for the company, due to a "lack of available financing on terms that would be commercially acceptable to a prospective acquirer", and was looking for other actions to help re-establish its financial ground.

In December 2021, GameStop posted a larger-than-expected loss in the fiscal third quarter, and investors are waiting to hear how the ailing company plans to restructure its operations and entice gamers back.

GameStop noted that the company's balance sheet was in good condition.

On October 8,2020, GameStop announced an agreement with Microsoft to migrate backend systems to Microsoft 365 platforms including Dynamics 365, including in-store usage of Microsoft Surface products by employees.

In mid-March 2020, GameStop faced criticism for its response to the COVID-19 pandemic in North America, with employees and social media users accusing the company of placing its business ahead of the safety of its staff and customers, in order to capitalize on an influx of video game purchases and related products for entertainment during the pandemic and related lockdowns.

GameStop stated that it would suspend in-store events and the use of demo stations, perform additional cleaning, and structure lines and limit store capacity to enforce physical distancing.

GameStop reiterated the safety measures that it had put in place, and announced that it would reduce store hours and suspend all trade-ins until at least March 29,2020, and offer curbside pickup.

In February 2021, GameStop announced that its finance chief Jim Bell, appointed in June 2019, would leave the company on March 26,2021.

Also in April 2021, Ryan Cohen, founder of Chewy and a large GameStop shareholder, was named chairman, effective in June 2021.

On June 9,2021, GameStop appointed former Amazon executives Matt Furlong and Mike Recupero as CEO and CFO respectively.

GameStop was replaced by Diana Saadeh-Jajeh, who was the company's chief accounting officer.

On May 26,2021, GameStop announced that it was working on a non-fungible token platform creating a token that is based on blockchain Ethereum technology.

The marketplace is curated, with a vetting process in place for artists; in July 2022 GameStop removed an NFT associated with artwork which referenced the photo The Falling Man and removed the ability for the creator's account to mint new NFTs on its platform.

GameStop removed their minting ability and the listings for the NFTs on their marketplace, although the NFTs themselves remain on the blockchain, the games themselves on Gamestop's servers, and can be sold on other marketplaces.

GameStop sells gaming accessories, Headsets, Mice and Keyboards under the Atrix brand.

GameStop provides its customers either cash or trade credit in exchange for customers' unwanted video games, accessories, and tech.

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GameStop TV is the in-store television network run internally by GameStop, with non-endemic sales in partnership with Playwire Media.

For example, GameStop included an additional avatar costume for Call of Duty: Black Ops when it was released in November 2010, and a pictorial Art-Folio for Metroid: Other M Soundtracks, artbooks, plushies, figurines, posters, and T-shirts have been special bonuses.

In January 2016, GameStop announced a partnership with Insomniac Games with its 2016 title Song of the Deep.