Roblox’s ‘Powering Imagination’ is powering it to go public. Roblox is an online game platform and game creation system that allows users to program games and play games created by other users. Founded by David Baszucki and Erik Cassel in 2004 and released in 2006, the platform hosts user-created games of multiple genres.
The Roblox games are super popular amongst kids. They gained a noticable incline of popularality during the pandemic. The company has now allegedly filed an IPO on Thursday,to become a public company. Apparently Roblox is now leading in the race of companies that are trying to go public before the end of the year.
Popular tween gaming platform Roblox has filed to go public.
During the pandemic, kids have flocked to Roblox to throw virtual birthday parties and other in-game events that were no longer safe to hold in-person. https://t.co/PzMg1M3EQB
— CNN Business (@CNNBusiness) November 20, 2020
Following this, Airbnb, DoorDash and online lender Affirm have also filed to go public in the past week.
I am literally so excited to get in on this Roblox IPO, follow AirBnBs, and admire $CRSR LETS GOOOO
— julian (@IndieJulian) November 20, 2020
$DASH, $ABNB, and $AFRM have filed their S-1’s and will be going public soon. Which one are you most excited about? pic.twitter.com/mJh41PHco3
— Beth Kindig (@Beth_Kindig) November 19, 2020
The company which has been sailing since 20026 has its journey of highs and lows. However, from what it looks like, 2020 is not a disaster for everyone. Especially not for Roblox.
Roblox files for IPO
31.1m DAU
7m active developers
18m games createdJan-Sept 2020 stats:
22.2 bn hours engaged (10bn last year)
$588.7 million in revenue
$1.2bn in bookings up 171% from 2019.
$203.2m losshttps://t.co/2bZjN3Sqie via @VentureBeat— Paul Loberman (@ploberman) November 20, 2020
‘Daily active users almost doubled in the period ended September to 36.2 million. A metric the company calls “hours engaged” more than doubled to 8.7 billion’- CNBC
There is a reason why Roblox is so popular with kids. The games are interactive and free. Moreover, also has digital currency- ‘Robux’ which one can use to buy virtual goods and enhance characters. The revenue of Roblox comes from letting users use their servers to host events like social gathering and parties. This concept became highly popular during the pandemic.
“We have experienced rapid growth in the three months ended June 30, 2020, September 30, 2020 and for a portion of the three months ended March 31, 2020. Due in part to the COVID-19 pandemic given our users have been online more as a result of global COVID-19 shelter-in-place policies,”- says Roblox while filing IPO.
