As Roblox shares hit the public market, the valuation of the online gaming platform soared to incredible heights.
The COVID-19 pandemic may have brought most of the world to a standstill but for Roblox it meant a huge growth in their player base, growth and an incredible increase in their valuation. As the online gaming platform Roblox hit the public market their shares sold at incredible prices, going for $68, up from the reference price of $45. This boosted the company valuation from 29.5 billion dollar to well over 42 billion.
In 2004, we founded @Roblox with the vision of connecting the world. Today, as we celebrate our direct listing on the @NYSE, we recognize the potential ahead of us: to build the platform where billions of people come together to learn, work, and play. #RobloxIPO
— David Baszucki (@DavidBaszucki) March 10, 2021
The CEO and founder of Roblox, David baszucki, commented on the public listing of Roblox on the New York Stock exchange on Twitter. “In 2004, we founded Roblox with the vision of connecting the world. Today, as we celebrate our direct listing on the New York Stock Exchange, we recognize the potential ahead of us: to build the platform where billions of people come together to learn, work, and play.”
Roblox originally planned to go public last year but decided against it. During the recent year Roblox’s revenue soared high as they brought in over 900 million dollars. The online gaming platform is one of the most popular ones out there, with over 35 million daily active users. With their valuation Roblox is now valued higher than companies such as Epic Games (17.3 billion).
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Image credit: Roblox