Tag: Roblox

Gaming Giant Roblox Preparing To Go Public Early 2021, Eyes $8 Billion Valuation: Report

By iwano@_84

KEY POINTS

  • Roblox is currently valued at $4 billion
  • It raised $150 million in series G funding in February
  • Roblox has more than 100 million monthly active users 

Gaming platform Roblox is getting ready to go public on the U.S. stock market early next  year, a move which may double its current valuation of $4 billion, Reuters reported.

The gaming company is in talks with investment banks to gauge whether it should debut on the market through a conventional initial public offering (IPO) or a direct listing, the report quoted sources as saying on the condition of anonymity. The company declined to comment to Reuters.

In an IPO, shares are created, underwritten an sold to the public, while in a direct listing, outstanding shares are sold with no underwriters involved. This is a rare method, which does not dilute the ownership of existing stakeholders.

This week, software maker Asana (NYSE:

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Exclusive: U.S. gaming platform Roblox prepares to go public

By iwano@_84

By Anirban Sen, Joshua Franklin and Krystal Hu

(Reuters) – 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.

U.S. demand for video games has surged as consumers seek home entertainment while living under lockdown measures to curb the spread of the novel coronavirus.

U.S. consumer spending on video gaming hit a record $11.6 billion in the second quarter, up 30% on the year-ago period, according to research firm NPD Group.

Roblox is weighing whether to go public through a traditional initial public offering or a direct listing, the sources said, cautioning that the plans are subject to market conditions.

The sources requested anonymity as the plans are private. Roblox declined to comment.

In a direct listing, no

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A 24-year-old game developer for Roblox who makes over $1 million a year shares how he started his own company after dropping out of school

By iwano@_84



a person smiling for the camera: Alex Hicks. Alex Hicks


© Provided by Business Insider
Alex Hicks. Alex Hicks

In 2010, Alex Hicks released his first video game on Roblox. Ten years later, he’s made more than $1 million a year as the owner of game development studio RedManta, which creates games for the popular kids platform and has since generated nearly one billion plays combined.

After several software engineering internships at Roblox, Hicks developed a solid understanding about game design, developer toolsets, and operations — a skill set that led him to quit college and develop games full time.

Now, he shares with Business Insider how embracing Roblox’s communities and focusing on efficiency helped him reach the million-dollar revenue mark in 2020.

“[A]t this point I’m feeling I’m much farther ahead than many of the people I know who graduated with game design degrees,” Hicks said. 

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