The virtual sandbox Roblox has steadily grown throughout the last few years, amassing a colossal userbase that includes over half of all children in the US in the process. With how successful it’s getting, the game/game-sharing platform is now in a position to become even more so, because developer Roblox Corp. has announced that it is going public.
There have been rumors for some time that the company would expand like this, but this week it was discovered that Roblox Corp. has filed paperwork with the US Securities and Exchange Commission (SEC) to begin trading on the New York Stock Exchange under the name RBLX. This comes at a time that has seen notable stock increases for US-based companies in the wake of the presidential election, though a few major game companies have actually seen their stocks drop following news of the COVID-19 vaccine.
Roblox Corp.’s filing divulges some impressive statistics. In addition to a third quarter revenue of $242.2 million (a 91% increase from the previous year), the company also pointed out that Roblox now boasts a massive 36.2 million daily users out of the 150 million that log into Roblox monthly.
As remarkable as all of that is, the company stressed that it’s looking to continue growing. Plans for this currently include “significant investments” in technical and social updates for the Roblox platform, a potential launch in China, and improvements to Roblox creators’ monetization options. Lastly, the company said it’s expecting to work with leading brands to “build unique marketing opportunities,” so users should expect to see more events in the vein of Lil Nas X’s massively popular Roblox concert in the future.
Roblox is available for Mobile, PC, and Xbox One.
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