To make sure you never miss out on your favourite NEW stories, we're happy to send you some reminders

Click 'OK' then 'Allow' to enable notifications

'Roblox' Is Preparing To Go Public And Is Expected To Be Worth $8 Billion

'Roblox' Is Preparing To Go Public And Is Expected To Be Worth $8 Billion

Hardly the new kid on the block now.

Imogen Donovan

Imogen Donovan

Roblox Corporation, the developer of (you guessed it) Roblox, is apparently working with investment banks to go public in early 2021.

As a massively multiplayer online game platform and game creation system, Roblox has an enormous community that spans the globe, and reached a record 150 million monthly players in July. "The accomplishments of our developer community have eclipsed even our loftiest expectations," said David Baszucki, founder and CEO of Roblox Corporation, of the achievement. "Our focus is to give developers the tools and resources they need to pursue their vision and create larger, more complex, more realistic experiences and collectively build the Metaverse."

The company is aiming to earn $250 million from the software in 2020, through profits generated from game passes and developer products. This lofty goal is more than double its earnings of the previous year, but with the impact of the pandemic on gaming habits, it isn't too far fetched. In March, the game saw a 40 per cent rise in the number of users, and "over half" of Americans under the age of 16 say they play Roblox.

Roblox /
Roblox Corporation

In June, it surpassed $1.5 billion in lifetime player spending, and children have flocked to the platform as an alternative to real life hangouts. After the company's last market valuation, it secured another $150 million in investments led by venture capital firm Andreessen Horowitz, and it's closing in on the popularity of Fortnite and Minecraft. In short, it's been a bumper year for Roblox.

And, as a result, Roblox Corporation is considering capitalising on this incredible momentum to go public and enter the stock market. Following on from these significant statistics, the company apparently estimates that it could double its present approximate market valuation of $4 billion, which is very big bucks indeed. The report says that it's keeping its options open for the time being though, and we would likely see the outcome of these conversations manifest in early 2021.

"We've stayed true to our vision of creating a safe and civil place where people come together to create, learn, and have fun, and it's amazing to see what we've built together with our global creator community," said Baszucki earlier this year. With major-league moves on the horizon, Roblox's growth could smash even more records, and then some.

Featured Image Credit: Roblox Corporation