Thursday November 30, 2023

Roblox Finally Goes Public

  • After multiple delays, video game platform Roblox went public on Wednesday.
  • The direct public listing comes on the heels of a $520 million Series H fundraise in January.
Roblox/Design: Alex Brooks
Copy Link
Link Copied
Link Copied

After multiple delays, video game creation platform Roblox went public on Wednesday via a direct public offering. The company’s value has exploded during the pandemic.

Roblox is its own sprawling universe that gives users tools and incentives to create their own games and entertain each other.

  • Developer payouts are the company’s largest expense, reaching $328.7 million in 2020, nearly double the previous year.
  • Over 1,250 developers earned more than $10,000 in company currency Robux, which can be converted into cash, and around a quarter of that group had six-figure earnings on the platform.
  • Daily active users climbed to 32.6 million last year, and players spent 30.6 billion hours on the platform.

Roblox generated $923.9 million in revenue in 2020, an 82% lift over the year prior. The company also raised $520 million in a Series H funding round in January at a $29.4 billion valuation — a massive increase from its $4 billion valuation a year earlier.

In its first day of trading, Roblox stock jumped 54% from the $45 reference price and closed at $69.50, giving the company a market cap of about $45 billion. There is buzz that Roblox could follow in the footsteps of GameStop as the latest “meme” stock.

Roblox founder and CEO David Baszucki’s stake is worth $4.6 billion after the company’s stock market debut.

Neil Rimer, a friend of Baszucki’s from Stanford, is a founding partner in VC firm Index Ventures, which owns shares worth $3.7 billion. Baszucki’s brother Gregory owns a $1.1 billion stake in Roblox, too.

Copy Link
Link Copied
Link Copied

What to Read

Nick Saban highest paid college football head coach.

Who Is Highest-Paid Coach in College Football?

Saban remains atop highest-paid head coaches getting over $11 million annually.

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.

How Daktronics Helps Elite Athletic Programs Secure Top Talent

How colleges are utilizing Daktronics' displays to elevate recruiting.

WBD Pursues ‘Different’ Strategy For Sports on Max

Company to place all of its live sports on new streaming tier
podcast thumbnail mobile
Front Office Sports Today

What’s Next for Mark Cuban, Mavericks After $3.5B Sale?


Featured Today

The College Football Playoff is considering rotating TV networks for the national championship game.

CFP Considers Super Bowl-Like Rotation For National Championship Game

Multiple networks could share rights to the championship game, sources told FOS.
Brett Favre
November 27, 2023

Favre Welfare Case Hold-Up? "AG’s Office Has Not Expressed Interest In Pursuing"

The DOJ interviewed Brett Favre in early 2020.
The future of the Pac-12 rests on a court decision.
November 24, 2023

The Pac-12 Plays Its Final Regular-Season Game. Then A Court Decides Its Fate.

The conference's future rests with a court decision.
Lane Kiffin
November 9, 2023

Ole Miss, Lane Kiffin Lawyers Argue for Dismissal of Player Lawsuit

FOS obtained audio of Lane Kiffin's interaction with the player behind lawsuit.


Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Multiple - USA Careers
Live Nation
Multiple - USA Careers
Saco Bay PT
Multiple - USA Careers
The swoosh logo at Nike Eugene.

Nike Misses Revenue Wall Street’s Projections, But Company’s Stock Soar

The company offset the shortfall by exceeding expectations in earnings per share.
June 30, 2023

Nike To Revive Kobe Signature Shoe Line

Late HOFer will again be the center of a signature shoe line.
The PGA Tour and PIF have a self-imposed Dec. 31 deadline to finalize their golf merger.
August 7, 2023

Saudi Arabia’s PIF Aims Higher With Launch of Sports-Focused Investment Company

The PIF has launched a new company, SRJ Sports Investments.

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
At Dick's Sporting Goods in Fairless Hills, Store Administrative Assistant Christine Vandfermay, of Philadelphia, restocks some Philadelphia Eagles items.
May 23, 2023

Dick’s Sporting Goods Sees Modest Growth, Less Foot Traffic

Dick's Sporting Goods saw a 5.3% increase in net sales in Q1.
Hellen Obiri of Kenya crosses the finish line to win the women's division at the 2023 Boston Marathon.
May 16, 2023

On Wants More Star Power, Visibility for Next Growth Phase

On is looking to grow through tennis and other verticals.
May 11, 2023

Topgolf Callaway Lowers Sales Expectations

Callaway cut its profit forecast for this year.
May 10, 2023

Endeavor Posts Record Quarter Amid UFC-WWE Merger Plans

Endeavor bought WWE in April, it also sold its IMG for $1.25B.