That’s understandable as people staying at home turn to video games for entertainment. The company attributes this acceleration to the pandemic. Roblox has seen its daily users skyrocket 85% over the past year, sending sales up 82% along with them. Now, the online gaming platform boasts tens of millions of games played by 32.6 million daily active users. Initially, Roblox had a user base of several hundred people. You could almost compare Roblox to Alphabet’s ( NASDAQ: GOOGL) Youtube, which relies heavily on independent content creators. The company has massive success today because it has a sticky and self-sufficient ecosystem. Unlike Electronic Arts ( NASDAQ: EA) and Take-Two Interactive Software ( NASDAQ: TTWO), Roblox users create games and play games created by other users. Are These The Best Stocks To Buy This Week? 4 Tech Stocks To KnowĪ Leading Gaming Platform You Don’t Want To MissĬEO David Baszucki and Erik Cassel founded Roblox in 2004 with a vision of connecting people through immersive 3D environments.Good Stocks To Invest In Right Now? 4 Epicenter Stocks To Consider.But before rushing in to buy RBLX stock, here’s what you should know. At such a valuation, Roblox shares could price at $45 apiece when they come to the market. The deal gave Roblox a $29.5 billion valuation. The shares will trade under the ticker ‘RBLX’ on the New York Stock Exchange.Īs you may or may not know, Roblox raised $520 million from investors in a private funding round. After shelving an IPO in December, video game developer Roblox is slated to go public through a direct listing of shares on March 10. stock market, there are still some that you just might want to consider. Despite the premium valuation in the U.S. And investors would probably be better off picking only a few that are the fittest. Yet for every big success like that, there are dozens of failures.
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