The majority of the company’s players are kids 13 and under. Roblox had 32.6 million daily active users at the end of 2020 and the company is predicting that it will have 34.6 million to 36.4 million by the end of 2021. People walk by the New York Stock Exchange (NYSE) in the Financial District in Manhattan in New York City. The company also said earlier this month that it now expects sales to rise about another 60% this year to a range of $1.44 billion to $1.52 billion. Roblox posted revenue of nearly $925 million last year, up 82% from 2019. That’s a big – and rapidly growing business. More than half of those sales are through the app stores of Apple The company generates nearly all of its revenue from the sale of its Robux currency, which can be used to purchase in-game virtual objects. Roblox is free to download on phones, tablets and consoles. His stake in the company is now worth more than $4 billion. “Roblox is an amazing community where people are creating together,” said Roblox CEO and co-founder David Baszucki in an interview with CNN Business Wednesday.
Roblox describes itself as a “metaverse” where players can make their own avatars and environments to play in, such as virtual theme parks or scuba diving. Shares of the popular video game platform debuted on Wall Street and surged nearly 55% to $69.50, valuing the company at more than $45 billion. Investors weren’t making the trademark “oof” Roblox death sound Wednesday.
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