Valve Software has become to gamers what the Apple (AAPL +0.52%) Store is to TV, movie, and music fans. The privately held company, created in 1996, rose to the top of the heap with its 1998 release of Half-Life and its 2003 unveiling of Steam, a massive online gaming store.
Here, we'll look at Valve's history, its prospects for launching an initial public offering (IPO), possible alternatives to buying Valve stock, and the financial status of the gaming titan.
Is Valve publicly traded?
No, Valve is not publicly traded. It's a privately held company created in 1996 by Gabe Newell and Mike Harrington, a pair of former Microsoft (MSFT +0.41%) employees.
Harrington left Valve in 2000 to spend time with his family, but Newell remains president of the company. Under Newell, Valve continued to develop new products, including its Steam online platform in 2003.
Since it's not publicly traded, Valve doesn't have to release detailed financial data. As of late 2025, some experts estimated the company's value to be in excess of $20 billion.
When will Valve IPO?
As long as Newell remains in charge of the company, analysts expect Valve to remain privately held "until he is incapable," in the words of one analyst. In other words, don't look for it on the calendar of upcoming IPOs any time soon.
If the notoriously private company does have shares of stock, they're likely in the form of profit-sharing for its employees, with revenue also being spent on research and development.
IPO
How to buy stocks similar to Valve Software
You'll need a brokerage account to buy shares of any publicly traded companies. If you still need to open one, these are some of the best-rated brokers and trading platforms. Here's a step-by-step guide to buying stocks.
- Open your brokerage account: Log in to your brokerage account where you handle your investments.
- Search for the stock: Enter the ticker or company name into the search bar to bring up the stock's trading page.
- Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
- Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
- Submit your order: Confirm the details and submit your buy order.
- Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.
The bottom line
Video game developers reaped big benefits during the COVID-19 pandemic when millions of people were locked down in homes with little entertainment. The boost from the pandemic has subsided, but if Valve Software ever goes public, it might be a good option for investors seeking to diversify their portfolio.
As always, consider your financial goals and risk tolerance, especially for an IPO stock likely to suffer ups and downs. The video game market can be extremely cyclical, and Valve's investment style may raise concerns among more traditional investors.
FAQ
About the Author
