‘Jagex Limited’ is a video game developer center and also the publisher. It is based at ‘St John’s Innovation Centre’ in Cambridge. The name of this company is originated from its original slogan ‘Java Gaming Experts’. Jagex is widely known for ‘Old School RuneScape’ and ‘RuneScape’. These two are collectively known as “free to play massively multiplayer online role-playing game”. Keep reading to know more about the net worth of Jagex in 2020.
Jagex was founded on 28th April 2000. Computer programmers and brothers Andrew Gower and Paul Gower initiated trading under the name Jagex in 1999. In that same year, they started working on the ‘MMORPG’ RuneScape which got released in January 2001. In December 2001, the Gower brothers along with Constant Tedder started Jagex. Tedder was made the CEO.
Jagex officially acquired its name Jagex in 2001 from Andrew Gower. RuneScape grew exponentially after its release. More than a million free accounts had got registered. The most important task on hand at that time was to create the paid version of this amazing game with some extra features. Finally, the paid version was released on 27th February 2002.
As the RuneScape was a very interesting game, the company never faced any setback. By the end of 2003, RuneScape had over 65000 paid members. The number of paid members became 1 million on 4th May 2007. The former CEO of PayPal Geoff Iddison replaced Tedder as the CEO of the company on 23rd October 2007 to gain more growth in the International market.
Mark Gerhard replaced Iddison as the CEO when Addison resigned in January 2009. Richard Wilson, the CEO of “The Independent Game Developers’ Association (TIGA)” said that Jagex is one of the most successful game developers in the world not just in the United Kingdom. In October 2005, Insight Venture Partners invested in Jagex. In December 2010, Spectrum Equity Investors and The Raine Group invested in the company and Insight raised their investment.
Jagex was ranked 59th and 87th respectively in the year 2007 and 2008 in the list of ‘100 Best Companies to Work For’ published in Sunday Times. Jagex came 3rd in the ‘Develop Conference Pub Quiz’ in 2008. The company also found a place in ‘Red Herring Top 100 Europe’ awards. Develop Magazine ranked Jagex 29th in the category of ‘Most Successful Game Studio in the World’. Jagex has the ‘Golden Joystick’ award for ‘Best UK Developer’. ‘National Online Recruitment Awards’ chose Jagex as the ‘Best Major Player’ from more than 164,000 nominations in November 2012.
Net Worth & Earnings
A Chinese company ‘Shandong Hongda’ known as a company for its iron ore mining operations acquired Jagex for $300 million. Jagex is considered to be the finest among ‘MMORPG’ players for widely popular ‘MMO RuneScape’. Jagex produced £74.4m in its final fiscal year, and this amount is the latest record for the company. Jagex is recognized as one of the exceptional and renowned video game developers based in the United Kingdom. As of now, Jagex has an estimated net worth of $350 million.