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Roblox has gone public via the direct listing route avoiding the IPO hassles. The company started from a small office in Menlo Park, CA to billboards across Times Square. Roblox is showing no signs of slowing down with the stock valuations closing at $69.5 per share. Reflecting an impressive 54% percent growth rate of the company.
What is Roblox?
Roblox is an online gaming platform, which allows users to create their own games. Minecraft another gaming platform is its competitor. The gaming platform has been around since 2006.
The iconic “oof” sound when a player dies has made waves amongst gaming circles. Briefly, there was some controversy over copyright which was settled by the developers paying $1 to include the sound in their creations. The company has released several versions of its games for iOS, Android, and Xbox in 2012, 2014, and 2015.
Roblox allows players to customize the game i.e. the character’s appearance while playing and using elements available in the expansive environment to create games.
While people were forced to remain indoors due to Covid lockdown, the game’s popularity has increased by leaps and bounds. It nearly surged 40% during the pandemic period of March 2020.
The game keeps getting new updates, one of its features allows kids and families to host virtual birthday parties and social gatherings.