It seems that U.S-based gaming giant Roblox Corporation will go public soon. According to Reuters, the corporation is already in talks with several investment banks to make arrangements for the same.
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“Roblox Corporation is working with investment banks to prepare for a U.S. stock market listing that could come early next year and which the online gaming platform expects could double its recent $4 billion valuation, people familiar with the matter said.”
The nature of the public offering is yet to be decided. Sources suggest that Roblox is exploring its options and deciding whether to go for a direct listing or an IPO. There are a lot of decisions to be made here, considering this will more or less double its current valuation.
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Roblox allows developers to create their own games using the programming language Lua
Roblox is a user-generated game platform where anyone can design and program their own game, making it available for everyone. It uses the Programming language Lua and hosts a wide variety of games. Interestingly, almost all these games are designed for children, but users across different ages enjoy it, too.
Dave Baszucki founded the company in 2004 and launched it in 2006 as Roblox. Although, it wasn’t until 2010 that the company saw a boom in its user base. Roblox also occasionally hosts events like Hack Week, and BloxCon, a mix of online and real-life events. It also offers its own currency called Robux that allows creators to trade their avatars and characters.
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Roblox released its iOS version in 2012 and an Android version in 2014. In 2019, Roblox crossed $1.5 billion in lifetime revenue on iOS. As of 2017, there were around 1.7 million content creators and developers using the app.
Games like Adopt Me!, Jailbreak, and MeepCity are some of the most popular games on the platform. Developers create close to 20 million games on the platform annually.
The decision to go public is probably to acquire more capital to expand the company’s reach. Further, it would be a great opportunity for developers to explore other markets across the world and enable creators beyond borders. Reuters confirms that Roblox denied any comment on the same, so there will be more details coming out soon.
