An Issaquah based video game company founded in 2015 by industry veterans Jeromy Walsh and Eddie Smith recently ceased operations. Soulbound Studios was developing the game Chronicles of Elyria through a crowdfunding effort on Kickstarter. A group of those investors have filed complaints with the Washington State Attorney General’s office claiming they were deceived. And others are seeking revenge and accountability.
A concerned investor recently shared a document with Issaquah Daily they received from Soulbound Studios in response to an inquiry from the attorney general’s office. That document is available in its entirety, here.
The studio had raised $900,000, but stated they needed $3 million more to complete the game. Over the lifetime of the company almost $8 million had been raised, including investment from a co-owned marketing company, Search Engine PPC, led by Mr. Walsh’s spouse and current City of Issaquah Council Member Lindsey Walsh. Issaquah Daily is not aware of any complaints directed at Mrs. Walsh, who was listed on Soulbound Studios website as Outreach Coordinator.
The closing of the company and thoughts related to it, were detailed in a nine part post on Twitter from Mr. Walsh.
Hey Twitter, I didn't want to go dark without warning, so here's my announcement: I'm going to be off Twitter for a while. As many of you know, it became necessary to shut my game company down this week. That's the hardest thing I've ever had to do. 1/9
— Jeromy Walsh (@JeromyWalsh) March 28, 2020