Why Is Everyone Talking About the Roblox IPO?
All you need to know about why Roblox's impending initial public offering (IPO) is a big deal is that, at last count, the gaming platform service had 36.2 million daily active users, which is up 97% from a year ago and a far cry from the 100 gamers the company started with in 2006.
Roblox is also making money from those players, with revenue in the most recent quarter up 90% over the year-ago period.
The San Mateo, Calif., company began in 2004 as a platform for multiplayer gaming and game development geared toward children. Inside the metaverse of Roblox, players can play or create games in a 3D world with their phones, game consoles, or computers. The platform includes three elements: Roblox Client, an application that allows users to try out 3D digital universes; Roblox Studio, a tool kit that allows developers to build their own games; and Roblox Cloud, the infrastructure that hosts the platform.
Source Fool.com
