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"We thought some free blood money from the world's richest ghouls sounded great, but it turns out they want your blood and your money after that, so we'd rather keep both and not ruin our business chasing gambling winnings for ghouls."
Well at least they eventually figured it out. If only the entire rest of the American economy would catch on.
The many that don't realize either actually do realize and play the game because they don't see or believe in another way, or they're also ghouls. Temporarily embarrassed millionaires and all that.
If Devolver Digital actually goes back to being private and uses the money they claim it will save well, that'll be a good story of choosing lasting value and client relationship over short-term monetary gains, which is rare and and hopeful, but especially awesome with these guys, because I love the games they publish.
But you're so right - I, too, wish the rest of the world would do the same. Maybe that'd lead to a more stable world that wouldn't seem impossible to thrive in without excessive hoarding and hostility to anyone else.
Oh how I wish that had been their actual statement.
One of the most powerful and monopolistic video games company is privately owned.
I don't see any mistake in Devolver putting out an IPO.
I assume that when the founders started the company, they were not ultra rich and had to take investor money in order to get their first couple games to market. They likely hired people at below market rates in exchange for equity.
Once the company became self sustaining and profitable, those people started asking about how they could turn the promises of equity into actual money. The easiest way was to IPO. Hopefully, the founders sold a bunch of stock when the company was at $250 per share.
Now the stock is at $7.50 per share and the founders can buy back all the stock they sold and all the stock they gave away in leu of payments. If they did it right, they now have complete control of the company and a pile of cash, all at the expense of the investors who bought in at the public offering.
Oh woaw! Common sense! It's rare these days!