Founded in 2004 by Canadian Entrepreneur David Bascuzki and the late Erik Cassel, Roblox Corporation has so far just made one game, Roblox, which has from that point forward become the essence of the company and furthermore quite possibly one the most famous games ever. Roblox Gameplay is all circled around the creation and mini-games, which then expands its core mechanics like Minecraft, ultimately resulting in a huge community. The game is trendy among mobile users and kids.
A report by Buisnesswire concludes that Roblox Corp is now valued at 29.5 Billion, which makes Roblox one of the most valuable game companies. This was confirmed by Altimeter Capital and Dragoneer Investment Group, which led the rounds, and also confirmed Roblox had raised $520 million through a series of H private placements. According to WSJ and a statement from Roblox, the company which had previously decided to go public in 2020, will now follow Spotify, Palantir, and Slack in going public through a direct listing. This will also further expand on current nature, and the existing shareholders or anyone who owns stocks will be allowed to sell them to the new investors.
Roblox CEO David Baszucki welcomed Altimeter and Dragoneer Groups, saying, “We’re thrilled to welcome Altimeter, Dragoneer, and the other new investors. We look forward to working with all of them as we continue our mission to build a human co-experience platform that enables shared experience, from play to work, and learning among billions of users.”
Following this transition and a jump in its total value to 29.5 Billion from 4 Billion (calculated last year). The company has now gone on top above other game companies like Take-Two, Ubisoft, and CD Projekt. If you compare its statistics to the bigger guns of industry, It ranks behind Nintendo, which is valued at $53.73 Billion, Call of Duty owner Activision Blizzard at $56.27 Billion, FIFA Creator EA at $34.34 Billion, and Tencent, the backbone behind Riot and Epic Games which sits at whopping $69 Billion.
Regardless, this is a great achievement, especially for a company that has only produced one game so far. Its remarkable success can be mainly associated with the Google Play/App Store, where it saw 159.6 Million Downloads since 2014, and $2 Billion in consumer spending on mobile. Roblox last reported that its active playerbase has had doubled and risen to 36.2 Million.