Roblox Files for IPO And Market Value Soars To $45 Billion
Shares of Roblox listed on Wall Street and surged nearly 55% to $69.50, valuing the company at more than $45 billion.
Roblox posted revenue of nearly $925 million last year, up 82% from 2019. The company also said earlier this month that it now expects sales to rise about another 60% this year to a range of $1.44 billion to $1.52 billion. Roblox CEO and co-founder David Baszucki is now worth more than $4 billion.
Roblox had 32.6 million daily active users at the end of 2020 and the company is predicting that it will have 34.6 million to 36.4 million by the end of 2021.
- Roblox almost tripled payouts to developers last year, while revenue didn’t quite double, as the company aims to get top creators to spend more of their time building for the app.
- More than 1,250 developers made at least $10,000 last year through virtual sales in their Roblox games.