CD Projekt Founders Loss $1 Billion
Written on: December 17, 2020
CD Projekt Founders See Stunning $1 Billion Loss After Troubled Cyberpunk 2077 Release
CD Projekt Red founders lose a sum-total of $1 billion following the disastrous console launch of Cyberpunk 2077 earlier this week.
Making headlines throughout the week due to its markedly poor performance on consoles, the aftermath of Cyberpunk 2077's chaotic release has garnered CD Projekt Red severe backlash from its wide fanbase. The company has fallen from low to low as the week has pressed on, admitting it didn't pay enough attention to Cyberpunk 2077's console ports and eventually becoming embroiled in a controversial matter surrounding promised refunds it had no grounds to ensure.
According to Bloomberg, it turns out the entire debacle has cost the founders of the company dearly, with Adam Kicinski, Piotr Nielubowicz, Marcin Iwinski, and Michal Kicinski all allegedly losing an accumulated $1 billion due to the fallout from Cyberpunk 2077's release. The report comes shortly after the news that CD Projekt Red's shares dropped by "a third" following the game's launch.
In the Bloomberg report, the publication also cited that CD Projekt Red's situation has led to some additional side effects, with the company allegedly being the target of short-sellers looking to take advantage of its plummeting shares. It appears the company has a long road to travel before it can begin rebuilding in the wake of one of the most disastrous launches in recent history. The studio has revealed where it plans to start, however, promising players that some significant fixes will be coming to the title over the next few months. According to CD Projekt Red's apology notice earlier this week, the team will hope to have the majority of the game fixed by February.
For those who haven't been keeping up with the events surrounding Cyberpunk 2077's launch, the title was held back from reviewers on PlayStation 4 and Xbox One prior to its embargo lifting on December 7. It seems likely that was because the console ports were in rough shape, with players quickly reporting textures failing to load in, frequent crashes, and a series of game-breaking issues. CD Projekt Red was quick to apologize and offer refunds, but seemingly didn't have the clearance to authorize the transactions, confusing several players looking to reimburse their copies.
As of today, Cyberpunk 2077 has even been temporarily removed from sale on the PlayStation Marketplace, with Sony offering full refunds to customers currently experiencing technical problems with the game. The studio is going to have to spend a long time rekindling the good faith it once held with fans, especially considering it was already under fire for forcing its developers to engage in mandatory crunch in the lead up to Cyberpunk 2077's release.
Cyberpunk 2077 is out now on PC, PlayStation 4, Xbox One, and Google Stadia, with PlayStation 5 and Xbox Series X/S versions currently in development.
