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User-Generated Gaming Platform Roblox Has Filed for IPO

A first for its kind

Poorna Shankar Updated: Posted:
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In a first for a user-generated gaming platform, Roblox has filed for an IPO.

According to VentureBeat, Roblox had previously raised some $150 million in funding in February through Andreessen Horowitz. It turns out that it was valued at $4 billion at that point in time. Roblox itself has grown tremendously, with over 31.1 million daily active users. Additionally, there are almost 7 million active developers on the platform.

This growth is further evidenced by 17.6 million daily active users in 2019, and 12 million in 2018. In a period of just one year, daily active users have nearly doubled. Some of this can no doubt be attributed to the pandemic which has seen the game industry as a whole do well.

CEO Dave Baszucki said in a letter,

“It seems like only yesterday when Erik Cassel and I launched the first version of Roblox from a small office in Menlo Park. From the start, we imagined the possibilities of bringing people together through play. Our goal was to create an online community where people could do things together in virtual worlds. We hoped that by sharing experiences, our users would connect, learn, and have fun with one another.”


ShankTheTank

Poorna Shankar

A highly opinionated avid PC gamer, Poorna blindly panics with his friends in various multiplayer games, much to the detriment of his team. Constantly questioning industry practices and a passion for technological progress drive his love for the video game industry. He pulls no punches and tells it like he sees it. He runs a podcast, Gaming The Industry, with fellow writer, Joseph Bradford, discussing industry practices and their effects on consumers.