International Tween sensation Roblox to go public: filing

Tween gaming sensation Roblox to go public: filing

Videogaming has exploded since the start of coronavirus crisis as millions of people have been forced to stay at home

Author

Date

Category

- Advertisement -

San Francisco, United States | AFP | Friday 11/20/2020

Popular platform Roblox, a pandemic sensation among children, is aiming to raise $1 billion in an initial public offering, according to documents published Thursday.

The online phenomenon, which allows users to create their own immersive 3D games, reported revenue of $589 million for the nine months to September and an operating cash flow of $345 million.

According to the filing, the California-based company is not yet profitable, reporting a net loss of $203.2 million in the nine months ending in September.

- Advertisement -

The size of the offering was listed at $1 billion, though that will likely change, according to Bloomberg.

Roblox is a massive hit among seven to 13-year-olds, who can use the platform to play games across a range of devices and systems including iOS, Android, PC, Mac, and Xbox. Developers get a share of any related revenue.

Videogaming has exploded since the start of coronavirus crisis as millions of people have been forced to stay at home.

According to the filing, daily active users of Roblox almost doubled from 12 million in 2018 to 17.6 million in 2019.

- Advertisement -

That number grew 82 percent from 17.1 million in the nine months to the end of September 2019 to 31.1 million in the same period this year.

The pandemic has seen shares soar for tech companies such as video-meeting platform Zoom, while Big Tech powerhouses have reported robust earnings.

© Agence France-PresseFollow us on Social Media

Send in your scoops to news@theindependent.sg 

- Advertisement -

Woman comes out of flat banging a gong repeatedly because her neighbour rings a bell for prayers

Singapore — In an incident revealing a lack of religious tolerance, a woman was filmed clanging a gong because her neighbour had to ring a bell for his prayers. One Livanesh Ramu wrote in a Facebook post on Wednesday (Jun 9) that...

Jamus Lim comments on progressive wage model in Facebook post

Singapore — Workers’ Party (WP) Member of Parliament (MP) Jamus Lim has noted that the progressive wage model (PWM) will raise the salaries of 30,000 workers employed as cleaners. Their wages will begin to go up from 2023. And by 2028,...

Suspected Ang Mo Kio cat-slasher arrested

Singapore – A 37-year-old man has been arrested for his suspected involvement in a series of cat-slashing incidents in Ang Mo Kio. The Animal & Veterinary Service (AVS), an entity under the National Parks Board (NParks), conducted an operation on Tuesday (June...
Follow us on Social Media

Send in your scoops to news@theindependent.sg 

Theindependent