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The Info List - GameStop



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GAMESTOP CORP., or simply referred to as GAMESTOP, is an American video game , consumer electronics, and wireless services retailer. The company is headquartered in Grapevine , Texas
Texas
, United States, and operates 7,117 retail stores throughout the United States, Canada, Australia, New Zealand, and Europe. The company's retail stores primarily operate under the GameStop, EB Games
EB Games
, ThinkGeek
ThinkGeek
, and Micromania brands.

In addition to retail stores, GameStop
GameStop
also owns Game Informer
Game Informer
, a video game magazine ; Simply Mac , an Apple products reseller; and Spring Mobile, an AT&T
AT&T
wireless reseller. It also operates Cricket Wireless branded retail stores as an authorized agent. Cricket is an AT&T
AT&T
brand pre-paid wireless retailer. J. Paul Raines is GameStop's chief executive officer , and Daniel DeMatteo serves as executive chairman.

CONTENTS

* 1 Operations

* 2 History

* 2.1 Babbage\'s (1984–1994) * 2.2 NeoStar Retail
Retail
Group (1994–1996) * 2.3 Babbage’s Etc. (1996–1999) * 2.4 Barnes Kongregate , a digital video game distribution site; and buymytronics.com, a consumer electronics marketplace. Pre-owned and value video games accounted for 47% of GameStop's gross revenue for the fiscal year ending February 2014.

HISTORY

Logo of retailer Software, Etc. on a 5.25" floppy disk branded by the company

BABBAGE\'S (1984–1994)

GameStop
GameStop
traces its roots to Babbage's, a Dallas, Texas
Texas
-based software retailer founded in 1984 by former Harvard Business School classmates James McCurry and Gary M. Kusin. The company was named after Charles Babbage
Charles Babbage
and opened its first store in Dallas's North Park Center with the help of Ross Perot
Ross Perot
, an early investor in the company. The company quickly began to focus on video game sales for the then-dominant Atari 2600
Atari 2600
. Babbage's began selling Nintendo
Nintendo
games in 1987. The company went public in 1988. By 1991, video games accounted for two-thirds of Babbage's sales.

NEOSTAR RETAIL GROUP (1994–1996)

Babbage's merged with Software Etc., an Edina, Minnesota -based retailer that specialized in personal computing software, to create NeoStar Retail
Retail
Group in 1994. The merger was structured as a stock swap , where shareholders of Babbage's and Software Etc. received shares of NeoStar, a newly formed holding company . Babbage's and Software Etc. continued to operate as independent subsidiaries of NeoStar and retained their respective senior management teams. Babbage's founder and chairman James McCurry became chairman of NeoStar, while Babbage's president Gary Kusin and Software Etc. president Daniel DeMatteo retained their respective titles. Software Etc. chairman Leonard Riggio
Leonard Riggio
became chairman of NeoStar's executive committee.

Gary Kusin resigned as president of Babbage's in February 1995 to start a cosmetics company. Daniel DeMatto, formerly president of Software Etc., assumed Kusin's duties and was promoted to president and chief operating officer of NeoStar. NeoStar chairman James McCurry was also appointed to the newly created position of NeoStar CEO. The company relocated from its headquarters in Dallas
Dallas
to Grapevine later that year.

NeoStar merged its Babbage's and Software Etc. units into a single organization in May 1996 amid declining sales. Company president Daniel DeMatteo also resigned, and NeoStar chairman and CEO James McCurry assumed the title of president. In September of that year, after NeoStar was unable to secure the credit necessary to purchase inventory necessary for the holiday season, the company filed for Chapter 11 bankruptcy. With the filing, NeoStar board member Thomas G. Plaskett became chairman and James McCurry remained company chief executive and president.

The leadership changes were not enough and in November 1996 the assets of NeoStar were purchased for $58.5 million by Leonard Riggio
Leonard Riggio
, a founder of Software Etc. and chairman and principal stockholder of Barnes & Noble
Barnes & Noble
. Electronics Boutique
Electronics Boutique
had also bid to purchase NeoStar, but the judge presiding over NeoStar's bankruptcy accepted Riggio's bid because it kept open 108 stores more than Electronics Boutique's bid would have. Approximately 200 retail stores were not included in the transaction and were subsequently closed.

BABBAGE’S ETC. (1996–1999)

Following his purchase of NeoStar's assets, Leonard Riggio
Leonard Riggio
dissolved the holding company and created a new holding company named Babbage's Etc. He appointed Richard "Dick" Fontaine, previously Software Etc.'s chief executive during its expansion in the late 1980s and early 1990s, as Babbage Etc.'s chief executive. Daniel DeMatteo, previously the president of both Software Etc. and NeoStar, became company president and COO. Three years later, in 1999, Babbage's Etc. launched its GameStop
GameStop
brand with 30 stores located in strip malls . The company also launched gamestop.com, a website that allowed consumers to purchase video games online. GameStop.com was promoted in Babbage's and Software Etc. stores.

BARNES "> Gamestop shop front inside a mall

Barnes & Noble
Barnes & Noble
purchased Babbage's Etc. in October 1999 for $215 million. Because Babbage's Etc. was principally owned by Leonard Riggio, who was also Barnes & Noble's chairman and principal shareholder, a special committee of independent directors of Barnes & Noble evaluated and signed-off on the deal. A few months later, in May 2000, Barnes & Noble
Barnes & Noble
acquired Funco, an Eden Prairie, Minnesota -based video game retailer, for $160 million. Babbage's Etc., which had been previously operating as a direct subsidiary of Barnes & Noble, became a wholly owned subsidiary of Funco. With its acquisition of Funco, Barnes & Noble
Barnes & Noble
also acquired Game Informer
Game Informer
, a video game magazine that was first published in 1991. Funco was renamed GameStop, Inc. in December 2000 in anticipation of holding an initial public offering for the company.

Barnes & Noble
Barnes & Noble
took GameStop
GameStop
public with a February 2002 initial public offering on the New York Stock Exchange
New York Stock Exchange
. GameStop
GameStop
was listed under the ticker symbol GME. Barnes & Noble
Barnes & Noble
retained control over the newly public company with 67% of outstanding shares and 95% of voting shares. Barnes & Noble
Barnes & Noble
retained control over GameStop
GameStop
until October 2004, when it distributed its 59% stake in GameStop
GameStop
to stakeholders of Barnes "> A store in Hillsboro, Oregon
Hillsboro, Oregon

GameStop
GameStop
acquired EB Games
EB Games
(formerly Electronics Boutique) in 2005 for $1.44 billion. The acquisition expanded GameStop's operations into Europe, Canada, Australia, and New Zealand. Two years later, in 2007, GameStop
GameStop
acquired Rhino Video Games from Blockbuster for an undisclosed amount. Rhino Video Games operated 70 video game stores throughout the Southeastern United States
United States
.

GameStop
GameStop
purchased Free Record Shop
Free Record Shop
's Norwegian stores in April 2008. The company acquired 49 stores and converted them into video game shops. Daniel DeMatteo replaced Richard Fontaine as GameStop
GameStop
CEO in August 2008. DeMatteo had served as company COO since 1996. Fontaine, who had been GameStop
GameStop
chairman and CEO since 1996, remained the company's chairman. J. Paul Raines, formerly executive vice president of Home Depot
Home Depot
, became company COO in September. GameStop acquired Micromania , a French video game retailer, in October 2008 for $700 million. GameStop, which had previously owned no stores in France, now had 332 French video game stores. It also acquired a majority stake in Jolt Online Gaming , an Irish browser-based game studio, in November 2009. Jolt closed in 2012.

J. Paul Raines became GameStop
GameStop
CEO in June 2010. He replaced Daniel DeMatteo who was named executive chairman of the company. GameStop acquired Kongregate , a San Francisco, California -based website for browser-based games; terms of the deal were not disclosed.

GameStop
GameStop
acquired Spawn Labs and Impulse in separate transactions during 2011. Spawn Labs was a developer of technology that allowed users to play video games that were run remotely on machines in data centers rather than their personal computer or console. Impulse was a digital distribution and multiplayer gaming platform. GameStop
GameStop
closed Spawn Labs in 2014.

GameStop
GameStop
purchased BuyMyTronics, a Denver, Colorado -based online market place for consumer electronics, in 2012. Later that year, it acquired a minority interest in Simply Mac, a Utah
Utah
-based authorized Apple reseller. GameStop
GameStop
acquired the remaining 50.1% interest in Simply Mac in November 2013. GameStop
GameStop
also acquired Spring Mobile, a Salt Lake City, Utah
Utah
-based retailer of AT&T
AT&T
-branded wireless services, in November 2013. They obtained 163 RadioShack locations as of February 26, 2015, as well. All GameStop
GameStop
stores have been closed down in Puerto Rico at the end of March 2016, citing increased rates of government taxes. On August 3, 2016, it acquired 507 ATborder:solid #aaa 1px">

* Companies portal * Dallas
Dallas
portal

* Play N Trade * GameCrazy * Kongregate

REFERENCES

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Dallas
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GameStop
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GameStop
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GameStop
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GameStop
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GameStop
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GameStop
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Dallas
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GameStop
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GameStop
Continues to Tweak Business Model". Dow Jones Top News & Commentary. * ^ Tom Hals (26 February 2015). " GameStop
GameStop
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Reuters
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GameStop
Acquires 507 AT&T
AT&T
Stores in Diversification Plan". August 2, 2016. Retrieved December 30, 2016 – via www.bloomberg.com.

* ^ Bishop, Sam (Jan 12, 2017). "The physical gaming market declined in the UK last year". Gamez Publishing. Retrieved Jan 13, 2017. * ^ Calvin, Alex (January 5, 2017). "ERA: 2016 physical games revenue down 16.4% year-on-year, but digital up 12.1%". Retrieved Jan 13, 2017. * ^ Kezar, Korri (Jan 13, 2017). "No reindeer games: GameStop
GameStop
posts 16 percent holiday sales drop". Dallas
Dallas
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GameStop
shares sank 8 percent on Tuesday after Microsoft unveiled a new attack on the used game business". Business Insider. Retrieved Mar 2, 2017. * ^ Armental, Maria (March 23, 2017). " GameStop
GameStop
Closing At Least 150 Stores Amid Sales Decline". The Wall Street Journal. Retrieved March 23, 2017. (Subscription required (help)). * ^ Molina, Brett (March 24, 2017). " GameStop
GameStop
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Retail
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GameStop
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GameStop
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GameStop
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GameStop
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GameStop
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Dallas
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* ^ "80 Holiday \' GameStop
GameStop
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GameStop
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GameStop
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GameStop
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ThinkGeek
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GameStop
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