NUMBER OF THE DAY
Roblox’s Valuation Jumped 638% ThisWeek
It’s the gaming platform all the cool kids are into this pandemic
$29.5 billion: That’s gaming startup Roblox’s new valuation, following a $520 million private fundraising round this week. Roblox — a platform that allows users to create their own games and socialize in virtual spaces like concerts and birthday parties — saw a sevenfold increase in valuation since its last funding round in February, Axios reports. Put in Roblox terms, the company is now worth nearly three trillion Robux, the in-game currency used by the platform. The company has seen rapid growth through the pandemic: It has over 150 million monthly active users, and as Scott Galloway wrote for Marker, American kids spend an average of 2.6 hours a day on Roblox. Still, despite its popularity, the company has yet to turn a profit.
Roblox shelved its plans to go public in December after other late-2020 IPOs like Airbnb and DoorDash saw their stock prices soar immediately upon going public. While “pops” are often perceived as a…
