The company was founded by Sean Murray, Grant Duncan, Ryan Doyle and David Ream in February 2008 (incorporated on 4 August 2008[3]) and has developed the Joe Danger series, No Man's Sky, The Last Campfire, and the upcoming Light No Fire.

[6] Developed by only a small four-person team led by Murray, No Man's Sky, was revealed at the VGX 2013 award show and generated a large amount of hype for the game.

[11] On 24 December 2013, the studio's offices were flooded after a nearby river broke its bank, with much of the hardware used in the development of the game being destroyed, but they were able to recover most of their projects' code and were able to relocate.

[12] The media continued to build excitement for No Man's Sky, furthered by Sony Interactive Entertainment obtaining publishing rights for it on the PlayStation 4.

[15] In 2017, the studio announced an initiative to fund multiple experimental and procedural generation projects based on their work in No Man's Sky called Hello Labs.