World Chess (CHSS) , a London-based chess gaming and entertainment company, announced the consolidation of all its consumer-facing assets - digital play, events, apps, and merchandise - under a single platform and brand at WorldChess.com.
World Chess said the consolidation was designed to enhance marketing efficiency, streamline user acquisition, and accelerate subscriber growth across its entire digital ecosystem. Additionally, the alignment aims to clarify and reinforce CHSS' position as a core infrastructure brand in the global chess economy.
CHSS is the only publicly listed chess company globally, with nearly 1 million registered users and rapidly growing recurring revenues. The group aims to scale even quicker through the platform restructuring that will give it the only unified experience that spans official play, community tools, merchandise, and global events under one brand.
Additional product enhancements and monetisation features are planned for Q3-Q4 2025, the company said in a statement.
Ilya Merenzon, CEO of World Chess, commented: "This is a foundational step for World Chess - one that allows us to scale faster, market more effectively, and deliver a unified experience across all platforms. By bringing everything under a single brand, we're not just simplifying operations - we're unlocking growth. World Chess is one of the core brands in the global chess economy, synonymous with design excellence, product innovation, and the unexpected joy of the game. This move sets the stage for what comes next."
Separately, CHSS announced a US$2.0m fundraise from two strategic investors at 1.3p/share, as well as the appointment of Dmitri Lipnitsky as a director.
Lipnitsky is the founder and former CEO of Gismart Limited, a mobile app developer known for its health & wellness, music and entertainment products. Under Lipnitsky's leadership, Gismart became one of Europe's fastest-growing companies, with revenues jumping 8,800% between 2015 and 2018, generating over 1 billion downloads across mobile apps and gaming titles.
CHSS shares rose c. 9% on the news of the brand consolidation, fundraise, and director appointment.
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World Chess has announced a major realignment of all its consumer-facing services under the WorldChess.com brand. This is a positive move that should reinforce the company's already strong brand and sales momentum, and eliminate any confusion regarding the ownership of its products and services.
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 ChessArena.com (now WorldChess.com), FIDE's official gaming platform where paid members from 160 countries can earn an online rating recognised by FIDE.
The most significant change resulting from the brand unification is the renaming of ChessArena.com to WorldChess.com - now live, with the former domain redirecting to the new site and updated branding in place. The move reinforces to both investors and the company's 1 million users that World Chess and the former Chess Arena are one entity, and that World Chess operates FIDE Online Arena.
Operationally, the realignment should streamline operations across all of CHSS' product lines - from the official FIDE gaming platform to global e-commerce and mobile apps - now operating under a single technical and brand stack. Additionally, the new unified messaging and user flow across CHSS' platforms should significantly reduce customer acquisition cost (CAC) and improve retention.
World Chess' main advantage in the space is that it has an exclusive license to run FIDE's Online Arena, and is the only platform offering FIDE-recognised digital ratings - a strategic differentiator in the growing market. Officially sanctioned play is now brand aligned with merchandise, media products, and event infrastructure in one vertically integrated product, which should help scale all services.
In short, the move should unlock faster subscriber growth and strengthen the company's market position where it already has strong sales momentum. For FY24, World Chess reported annual revenues of €2.43m. Net loss before tax narrowed significantly to €3.84m from €4.67m in FY23, while gross profit jumped to €889k from €179k last year. The fivefold increase in gross profit was attributed to CHSS' shift toward higher-margin digital offerings and increased operational efficiency.
The improved profitability 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, the new US$2m fundraise, €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.
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