Roblox is deciding to go public.
Roblox, the popular online gaming platform that thrived during the pandemic, is going public.
The company is working hand in hand with investment banks to achieve this.
Currently, the company has a $4 billion net worth.
If the deal with the investment banks goes well, Roblox intends to double that to $8 billion by next year.
As you may already know, a lot of gaming and streaming platforms did well during the lockdown.
Roblox appears to be one of them.
People used means like this to stay entertained and sane during that time.
As you may already know, staying home was the only way to stop the spread of the virus.
And who can stay home idle without getting busy?
This was especially convenient for kids and parents who had to work from home.
Roblox deciding to go public could come in two ways.
One of which is doing it through traditional means – a public offering.
The platform could also decide to do so through direct listings.
If the company decides to go public through a direct listing, it’ll differ from an IPO.
With a direct listing, the company will be unable to sell new shares.
However, going public through the means of direct listing rarely happens.
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What to go for?
The California based company was founded in 2004.
The decision of the listing came in February after the company raised $150 million.
Roblox got the money from a fundraising event led by Venture Capital Andreessen Horowitz.
Roblox also mentioned at the same time of the announcement of its progress thus far.
They had got over 115 million active users.
In addition to that, they also attained a monthly engagement number of 1.5 million gaming hours.
We think the reason for Roblox’s fame is its ability to give its users a variety of choices.
When you play Roblox, you’re exposed to a variety of online games.
Another plus is you can play the games both on gaming consoles and your mobile devices.
The game has a 4.5/5 rating on Google Play.
It also has a unique feature where gamers can make purchases from the game. Sort of like a virtual world.
Roblox is also very familiar with kids and adolescents.
The game also provides an educational feature.
Think of gaining knowledge while having fun.
Don’t get it twisted, it’s age-friendly, so even you can play and have fun.
If you decide to play the game, please let us know what you think of it!