![]() ![]() Roblox is essentially Newgrounds for a younger generation The platform, however, isn't profitable despite generating $924 million last year. Roblox nearly doubled its userbase from 17.6 million daily users in 2019 to 32.6 million in 2020. A record $56.9 billion was spent on gaming in the US in 2020, which is a 27 percent increase over 2019 figures. Roblox's success aligns with the growth of video game industry during the pandemic. Platform nearly doubles daily active users Generates $924 million revenue The move underscores Roblox's confidence in its business model. Opting for direct listing saves it from paying underwriter fees while still going public. The company was already flush with $520 million raised in a private funding round it didn't really need an IPO to raise capital. Why Roblox took the direct listing route instead of IPOĭirect listings are ideal for companies such as Roblox that have strong brand identity and are attractive valuation-wise. Its stock valuation closed at $69.5 per share-an impressive 54 percent growth. The company went public via the direct listing route, thereby avoiding IPO hassles and underwriter fees. The company went public on Wednesday at a reference price of $45, which valued it at $45 billion. ![]() The meteoric rise of online gaming platform and game creation system Roblox shows no signs of abating. ![]()
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