Take-Two Interactive

As of April 2025, it is one of the largest publicly traded game companies globally with an estimated market cap of US$41 billion.

1993–2000: Formation and initial growth

Starting with Star Crusader in September 1994, Take-Two found its first major success with games that included full motion video with well-known live actors performing the parts, following the success that Mechadeus had with The Daedalus Encounter which featured Tia Carrere. Take-Two hired Dennis Hopper, among others, to star in parts for Hell: A Cyberpunk Thriller (1994), which sold over 300,000 copies over the following year and established profit for the company. This was followed by Ripper) (1996), of which US$625,000 of its US$2.5 million budget was used to hire actors such as Christopher Walken, Karen Allen, and Burgess Meredith. The success of both these games, as well as earlier titles, led to a publishing agreement between Take-Two and Acclaim Entertainment to publish Take-Two's titles, as well as obtaining overseas distribution. Take-Two also secured a license with Sony Computer Entertainment to publish on the PlayStation line of consoles. In February 1995, GameTek acquired a stake in Take-Two, aligning the studio with its own Alternative Reality Technologies. By July 1995, Take-Two had established its head office in the Silicon Alley area of New York City. Take-Two expanded in its Latrobe location and, in September 1996, took over the second floor of its office building, which had been occupied by the Chestnut Ridge Chapter of the American Red Cross.

1993–2000: Formation and initial growth

Around 1996, the company was making about US$10 million, but Brant wanted to further expand the company, and made its first acquisition of Mission Studios and publishing its JetFighter III game in 1996. Brant decided to secure additional funds for acquisition by taking the company public. The company announced this intent in April 1997, looking to raise $8.2 million. The company had its initial public offering (IPO) on April 15, 1997, being listed under the ticker symbol TTWO on the NASDAQ stock exchange. The opening price was $5.50, above the expected $5, and on its first day rose to $5.75. From the IPO, the company gained about US$6.5 million along with US$4 million on venture fund promissory notes. At this time, Peter Brant had been the largest shareholder in Take-Two at 25% owned through Bridgehampton Investors LP, which also had Ryan Brant as general partner. The additional funds allowed Take-Two to acquire GameTek's European operations, its internal Alternative Reality Technologies studio (later renamed Rockstar Toronto), and the rights to GameTek's Dark Colony, The Quivering, The Reap, Jeopardy!) and Wheel of Fortune) games. The company hired Kelly Sumner, a GameTek executive director, as part of this purchase. Additionally, the company acquired Inventory Management Systems, Creative Alliance Group, and Alliance Inventory Management, three video game distribution companies that helped to extend Take-Two's reach into the retail market.

Take-Two Interactive