That’s understandable as people staying at home turn to video games for entertainment. The company attributes this acceleration to the pandemic. Roblox has seen its daily users skyrocket 85% over the past year, sending sales up 82% along with them.
Now, the online gaming platform boasts tens of millions of games played by 32.6 million daily active users. Initially, Roblox had a user base of several hundred people. You could almost compare Roblox to Alphabet’s ( NASDAQ: GOOGL) Youtube, which relies heavily on independent content creators. The company has massive success today because it has a sticky and self-sufficient ecosystem. Unlike Electronic Arts ( NASDAQ: EA) and Take-Two Interactive Software ( NASDAQ: TTWO), Roblox users create games and play games created by other users.
Are These The Best Stocks To Buy This Week? 4 Tech Stocks To KnowĪ Leading Gaming Platform You Don’t Want To MissĬEO David Baszucki and Erik Cassel founded Roblox in 2004 with a vision of connecting people through immersive 3D environments.Good Stocks To Invest In Right Now? 4 Epicenter Stocks To Consider.But before rushing in to buy RBLX stock, here’s what you should know. At such a valuation, Roblox shares could price at $45 apiece when they come to the market. The deal gave Roblox a $29.5 billion valuation. Today, as we celebrate our direct listing on the New York Stock Exchange, we recognize the potential ahead of us: to build the platform where billions of people come together to learn, work, and play.As you may or may not know, Roblox raised $520 million from investors in a private funding round. In a statement, Baszucki said, "In 2004, we founded Roblox with the vision of connecting the world. That places the company's valuation higher than EA, which has numerous sports franchises including Madden NFL and FIFA under its umbrella, as well as Take-Two, the parent company of Grand Theft Auto developer Rockstar Games.įounder David Baszucki was on-hand in New York to ring the opening bell to mark the start of trading for Roblox, which will trade under RBLX.
The Wall Street Journal reports that Roblox ended its first day of trading with a market valuation of over $45 billion dollars. It's a big day for Roblox Corp., the company behind the hit game Roblox, as the game's owner is now listed on the New York Stock Exchange as part of a business move that marks the next stage in the developer's growth.
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