New York, USA (CNN) – The popular video game “Roblox” went public on Wall Street on Wednesday, raising the stock’s value by nearly 55% at $ 69.50, pushing the company’s market value beyond $ 45 billion.
ROBLOX describes itself as “metaverse”, where players can create their own avatars and playable environments, such as virtual theme parks or on a scuba diving site.
“ROBLOX is an amazing community where people work together,” said ROBLOX CEO and co-founder David Pazuki in an interview with CNN on Wednesday. Bazuki’s stake in the company is now more than $ 4 billion.
ROBLOX can be downloaded on phones, tablets and consoles for free. The company earns almost all of its revenue from selling its “Robux” currency, which can be used to purchase virtual objects within the game. More than half of these sales occur through the “Apple” and “Google” app stores.
ROBLOX reported revenue of about $ 925 million last year, an increase of 82% over the year 2019. The company also said earlier this month that it now expects sales to rise by an additional 60% this year, at a range between $ 1.44 billion and $ 1 billion. $ 52 billion.
ROBLOX had 32.6 million daily active users at the end of 2020, and the company expects that it will have between 34.6 million and 36.4 million by the end of 2021.
