Codie SanchezFounder @ Contrarian Thinking

They Made $100 Million From Chess?! #shorts

19 Feb 2023 · 1 min

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0:47

Eric bought Chess.com for $55,000 in 2005 and grew it to $50M in annual revenue with 10 million games played daily. The platform now employs 400 people across 35 countries and is projected to hit $100M in 2023, making money through subscriptions and ads.

Questions this video answers

February 19, 2023

$55,000 in 2005

About $50 million per year

More than 10 million games per day

Approximately 400 employees in 35 countries

Chapters

Make $100 million like these guys did. This is Chess.com I think it's one of the smartest plays I've seen out there. That's totally repeatable. This guy, Eric, bought Chess.com for 55k in 2005. They wanted to be the MySpace of chess. A social place where you can share your games, build your profile, add your friends, chat on forums. They built it up to about $50 million a year in revenue. Now they have more than 10 million chess games every day. They employ 400 people in 35 different countries. And they acquired the rights to broadcast the World Chess Championship. And they use 21st century versions like TW YouTube to stream it and generate a ton of revenue. They make money two ways. Paid subscriptions if users want an ad, free experience, and certain special features. It's projected that Chess.com will make $100 million this year. In 2023.