World Chess (CHSS) , a London-based chess gaming and entertainment company, issued a business update highlighting several key milestones. CHSS reported surpassing 1 million registered users, appointing Chess.com's former design lead, and preparing a major mobile app launch.
For context, World Chess is the official partner of the International Chess Federation (FIDE), the world's governing chess body and member of the International Olympic Committee. World Chess is the exclusive operator of WorldChess.com, FIDE's official gaming platform where paid members from 160 countries can earn an online rating recognised by FIDE.
World Chess's passing 1 million users on WorldChess.com is a significant milestone that establishes the platform as a major player in the online chess space. The company said it remains focused on "increasing engagement and conversion to paid membership" through newly introduced features, such gamification and unlimited post-game analysis for subscribers.
World Chess also noted the appointment of a new Head of Mobile Design who previously held a senior design role at Chess.com - the largest company in the space. The move is meant to accelerate the development of World Chess' next-gen mobile products.
Finally, CHSS confirmed that its newly redesigned mobile app will launch of November 1, 2025. It will feature a new interface, faster gameplay, and an expanded feature set.
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World Chess notes a number of positive developments in its latest business update that should further accelerate subscriber growth and reinforce the company's already strong brand and sales momentum. With over 1 million registered users, the company is poised to continue growing its paid customer base through recently introduced gaming enhancements and the new mobile app. The former represents a major redesign that should bolster monetisation.
Hiring the former design lead of Chess.com is another milestone move that should materially boost engagement. The undisclosed hire has extensive expertise in designing chess platforms at scale, and will be key to CHSS' "mobile-first" strategy.
The WorldChess.com platform, run exclusively by World Chess for FIDE, was already enjoying strong sales momentum, with FY24 revenues rising to €2.43m and net loss narrowing materially to €3.84m from €4.67m in FY23, while gross profit jumped to €889k from €179k the prior year. The fivefold increase in gross profit was attributed to CHSS' shift toward higher-margin digital offerings and increased operational efficiency, which should be bolstered further by today's announcements.
The strong performance lays a solid foundation for sustained growth, increased monetisation, and long-term financial stability, as CHSS solidifies its position as the go-to platform for elite online chess tournaments. Looking ahead, a recent US$2m fundraise, a €6m loan secured in September 2024, and prior investments in FY24 and FY25 should keep CHSS funded to continue product development and platform expansion. The global chess market was valued at US$2.5bn in 2023 and is projected to grow to $3.8bn by 2032.
CHSS shares jumped 16% on the news.
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