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School is out for Rec Room: The social gaming platform announced on Monday<\/a> it is shutting down this June, despite \u201creaching over 150 million players and creators along the way\u201d since its founding in 2016<\/a>.<\/p>\n<\/div>\n \u201cDespite this popularity, we never quite figured out how to make Rec Room a sustainably profitable business,\u201d the company said in a statement<\/a>. \u201cOur costs always ended up overwhelming the revenue we brought in. \u201cWe spent a long time trying to find a way to make the numbers work.\u201d <\/p>\n \u201cBut with the recent shift in the VR market, along with broader headwinds in gaming, the path to profitability has gotten tough enough that we\u2019ve made the difficult decision to shut things down,\u201d it explained.<\/p>\n Once valued at $3.5 billion, Rec Room is\u00a0a popular, cross-platform social video game that allows players to hang out, create, and share user-generated games and virtual goods<\/a>.<\/p>\n<\/div>\n \u201cOver the last decade, players made over half a billion friends on the platform, spending a cumulative 68 thousand years<\/em> in Rec Room; with millions still showing up each month,\u201d according to the announcement.<\/p>\n The Seattle-based company said it is pulling the plug now, while it still has the ability to wind things down \u201cthoughtfully and do right by the people who built this with us.\u201d<\/p>\n As of Monday, users can no longer create new accounts, add a friend, or sign up for a Rec Room Plus (RR+) membership. However, active memberships are good until June 1.<\/p>\n<\/div>\nWhat does this mean for players?<\/h2>\n