GoKawiilValve turns 30, tracing roots to Gabe Newell and Mike Harrington's Microsoft exit
Valve LLC was formally registered on August 24, 1996, by two ex-Microsoft employees, Gabe Newell and Mike Harrington, who left secure jobs to bet on making games. They funded the venture with personal savings, a stock sale, borrowed money, and a deal with publisher Sierra On-Line that gave up 30% of revenue and their intellectual property. That gamble led to Half-Life in 1998 and eventually Steam, which began as a simple patch-delivery tool before becoming the dominant PC gaming storefront.