author: Adrian Piotrowski
Roblox Overtakes EA and Take-Two on the Stock Market
The company behind the popular online sandbox game Roblox has successfully debuted on the New York Stock Exchange. The game's popularity is constantly growing and the company is currently worth more than EA or Take-Two.
Yesterday, Roblox Corporation, the company behind the popular sandbox Roblox, debuted on the New York Stock Exchange. The first day was extremely successful for the company, as the share prices, which were initially at $45, oscillated around $69 by the end of the day. This has put the company's value at over $45 billion today. At this point, Roblox Corp. is worth more than such industry giants like Electronic Arts or Take-Two Interactive. Interestingly, the corporation went public through a so-called direct listing rather than an initial public offering. This means that before the debut Roblox Corp. did not sell any shares, and those that are available now can be purchased without the participation of intermediaries.
Roblox's success has not escaped the attention of the industry. Epic Games boss Tim Sweeney spoke out on Twitter and congratulated the success of Roblox Corp.'s CEO. Dave Baszucki.
Developed in 2006, Roblox is an online game aimed at 8-18 year olds. Its popularity is primarily due to the fact that it is a platform that enables us to develop our own games. Despite almost 15 years since the release, the title is still being developed and brings the company, co-founded by Dave Baszucki, big profits. Its colorful setting, low entry threshold and angular aesthetics (unintentionally reminiscent of Minecraft) attract many underage players. Even if you've never played Roblox, you're certainly familiar with the game's "death" sound, which has become an Internet meme.
In contrast to the aforementioned work of Mojang, the player receives all necessary tools right away and does not have to worry about their game or search for the right resources. The player is limited only by their imagination, but if they miss something, he can always go to the in-game shop and buy needed items for virtual money called Robux. Sometimes we need them to get access to some games, but in most titles, we can play completely for free. Some of the creations of the players are impressive both in scope and professionalism.
Roblox is one of those games that benefited greatly from the COVID-19 pandemic, with its 2020 financial report showing that the company generated $923.9 million in revenue (82% more than in 2019) and that the number of players increased to 32 million daily. The title is available on PC, Xbox One, and Series X|S and mobile devices.
