Rec Room is a gaming platform for creating and playing user-generated virtual rooms and experiences. It monetizes through virtual currency, a subscription tier, and a creator marketplace.
Access to pre-IPO shares is available to accredited investors through UpMarket.
Latest Price
$3.5B
Series D, unknown, Perplexity
UpMarket Estimate
$3.5B
Based on UpMarket valuation model
Previous Price
Series C unknown
How to Invest in Rec Room Through UpMarket
Rec Room shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.
Step 01
Verify accredited investor status
Confirm eligibility under SEC Rule 501 of Regulation D. Income or net worth threshold applies.
Step 02
Create an UpMarket account
Complete KYC/AML onboarding. Typically 1–2 business days. Licensed rep assigned on signup.
Step 03
Review available Rec Room offerings
Full offering memoranda and risk disclosures provided before any commitment is required.
Step 04
Complete subscription documents
Review and sign subscription agreement. All documents handled digitally through the platform.
Step 05
Fund your investment
Wire transfer or ACH. $50K minimum. Funds held in custodial account until close.
Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.
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Valuation Growth Over Time
Post-money valuation by round
Previous roundsMost recent
Date
Round
PPS (split-adj.)
Valuation
unknown
Series D
$3.5B
unknown
Series C
unknown
Series B
unknown
Series A
Rec Room Revenue and Growth
Annual revenue
Why Investors Are Watching Rec Room
Growth Signal
Rec Room raised $145M at a $3.5B valuation in 2021
Rec Room closed a $145 million financing round that valued the company at $3.5 billion, signaling strong investor demand for its social VR gaming platform. The round was led by Coatue Management with participation from Sequoia Capital, Index Ventures, and Madrona Venture Group.
Competitive Moat
User-generated VR platform spans social and multiplayer play
Rec Room is described as a platform for VR, AR, social, and multiplayer experiences, combining creation and network effects in one product. Its user-generated, immersive gaming model can make content breadth and engagement harder for rivals to replicate quickly.
Market Opportunity
Rec Room targets the growing social VR and UGC market
Rec Room is a social VR gaming platform where players can chat and play across immersive experiences, positioning it in the intersection of gaming, social media, and creator-led content. Its 2021 funding and $3.5 billion valuation imply investors see room for expansion in a large consumer immersive market.
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No. As of March 2026, Rec Room is a private company and does not trade on any public stock exchange. Accredited investors can access Rec Room shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments.
Rec Room does not have a public stock price because it is privately held. The most recent known share price comes from its last funding round. Pre-IPO share prices on the secondary market may differ from the last round price depending on supply, demand, and market conditions.
Yes. Accredited investors can indicate interest in Rec Room shares through UpMarket by filling out the form on this page or creating an account at upmarket.co. All pre-IPO offerings are subject to availability and require a $50,000 minimum investment. UpMarket is a FINRA-registered broker-dealer and has brokered alternative investments since 2019.
Pre-IPO investments carry significant risks. Rec Room shares are illiquid, meaning there is no public market to sell them quickly. There is no guaranteed exit timeline or return. The investment is speculative in nature, and investors should be prepared for the possibility of total loss. Valuations of private companies can fluctuate substantially between funding rounds. Investors should consult their financial advisor and review all offering documents before investing.
In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.
There are two primary exit paths for pre-IPO holdings: selling your shares on the secondary market to another buyer, or holding until the company completes an IPO or is acquired. Both paths are subject to transfer restrictions, company approval (right of first refusal), and market conditions. The timing of any exit is unpredictable, and investors should plan for a multi-year holding period.
The minimum investment for most pre-IPO offerings on UpMarket is $50,000. This amount may vary depending on the specific offering and share availability. There are no fees to create an UpMarket account or browse available investments. Investors only pay transaction-related fees when they complete an investment.
UpMarket's valuation estimate of is derived from a proprietary model that incorporates multiple data sources: funding round data (Caplight), revenue estimates (Sacra), secondary market pricing, and public company comparables. The model applies a private company discount to the public comp multiple to account for illiquidity and information asymmetry. This estimate is not investment advice and may differ substantially from the price at which shares actually trade.
Rec Room operates a user-generated virtual gaming platform with $26M in 2026 revenue and a $3.5B valuation, after raising $145M at that valuation in 2021 — accredited investors can access Rec Room stock through UpMarket.