Roblox, a user-generated video game platform, has filed to go public. The filing was done confidentially, but was expected as reports surfaced earlier this year the company could go public with an $8 billion valuation.
In February, Roblox announced a $150 million round of funding, valuing the company at $4 billion. The company’s developer community is on pace to earn $250 million in 2020, up from $110 million in 2019.
Video games have surged in 2020, including Roblox, which most recently reported 115 million active users playing 1.5 billion hours of games per month. The platform also reportedly has big plans for virtual events — which have seen major success on Fortnite — recently hosting 1.156 million players for an Ava Max virtual fan meetup.
Video Games’ Big 2020:
- Consumer video game spending hit $11.6 billion in the second quarter.
- Take Two Interactive shares are up 55% since March.
- Activision Blizzard shares are up 40% since March.
- Nintendo are up 67% since March.
- Shares are up 60% since game engine maker Unity went public in September.
- Skillz plans to go public through a $3.5 billion SPAC deal.