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The company behind the hit kids game Roblox is going public |
Roblox Adopt Me Bucks The company behind the hit kids game Roblox is going public after soaring use during the pandemic. The company now has 31.1 million daily users who have spent an average of 2.6 hours per day in the game this year according to Roblox’s prospectus.
Third-party developers can create experiences on the platform that cost Robux a model that has seen significant uptake over time. According to Roblox its developer and creator pool earned $72.2 million in the first three quarters of 2019 a figure that soared to $209.2 million in the same period of 2020. (TechCrunch has a deep-dive into Roblox and its pre-IPO success here if you want more depth in its business mechanics. We’ve also dug into its tech stack evolution here if that is your jam.)
How do the numbers look? Well Roblox is certainly growing quickly — Roblox Adopt Me Money total revenue increased 56% in 2019 and then another 68% in the first three quarters of 2020 when it saw $588.7 million in revenue. At the same time losses are growing as well nearly quadrupling to $203.2 million during those same three quarters.
In a press release Andrew Chan head of digital gaming at Mattel commented on Hot Wheels Open World:
"We’re incredibly excited to bring Hot Wheels to life for millions of fans around the world on Roblox. The Roblox platform unlocks digital experimentation and play which are core to the Hot Wheels brand. ’Hot Wheels Open World’ provides a creative sandbox for Hot Wheels gamers of all ages to play and compete online together."
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