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Steam is a video game distribution and content sharing platform owned and operated by Valve Software, a corporation founded in 1996 who rose to fame through franchises like Half-Life and Counter-Strike. Steam was announced in 2002, with a beta test in the first half of 2003 and then a public release September of the same year.
Stable, as Valve has stated that due to their privately owned nature there's no stockholder pressure to perform. Not too likely to die in the future unless there were a long series of catastrophic mistakes within a short timespan, considering the revenue generated from seasonal sales and microtransactions in Valve-published games.
It was reported by a redditor who deleted their account that there would be contingencies in place to ensure games published on Steam would remain playable in the event of Steam being shut down or Valve going under. This could entail redemption of codes on other platforms like GOG.com or as far as an official Steam cracker to make games that require the operation of Steam no longer require it, but the means for recovering games is unclear.
If Valve were to go out of business the primary area of concern would be the Steam Community, as it likely holds many hundreds of terabytes of data, possibly even a few petabytes at worst.