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Valve Corporation is an American video game development and digital distribution company based in Bellevue, Washington, United States. Founded in 1996 by former Microsoft employees Gabe Newell and Mike Harrington, Valve became famous from its critically acclaimed Half-Life series, (the first game released in November 1998). It is also well known for its social distribution network Steam and for developing the Source engine, which has been used in every Valve game since its introduction in 2004.
Valve announced its games platform Steam in 2002. At the time it looked merely to be a method of streamlining the patch process common in online video games, but was later revealed as a replacement for much of the framework of the World Opponent Network service and also as a distribution/digital rights management system for entire games.
Source: Wikipedia

Valve announced its games platform Steam in 2002. At the time it looked merely to be a method of streamlining the patch process common in online video games, but was later revealed as a replacement for much of the framework of the World Opponent Network service and also as a distribution/digital rights management system for entire games.
Source: Wikipedia