Roblox goes public so that it can build a bigger metaverse
The company behind the hit kids game Roblox is going public after soaring use during the pandemic. Roblox makes money when these games offer in-app purchases, and it gets a cut of sales of the in-app currency Robux. More than 18 million “experiences” have been created inside the game. Roblox intends to increasingly turn its platform into a social space where players can have a variety of different experiences. “In our vision, metaverse platforms will connect people from different life experiences with new and interesting ideas,” Roblox CEO David Baszucki wrote in the prospectus.