Seattle's Rec Room Hits $3.5B Valuation with 29M Users but Rejects 'Metaverse' Label

Seattle startup Rec Room, valued at $3.5 billion, has expanded its avatar-based social gaming app to 29 million active users across multiple platforms with significant mobile growth and new content partnerships. Despite its virtual social space and rapid user base expansion, Rec Room does not consider itself a 'metaverse' company, positioning its platform as a supplement rather than an alternative to real life.