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TECH Gaming company Roblox files IPO prospectus.

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.

Following this, Airbnb, DoorDash and online lender Affirm have also filed to go public in the past week.

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.

‘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.



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