The price of the game platform increases by 43 percent

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The shares of the games manufacturer Roblox Corp has been listed on the New York Stock Exchange since Wednesday. In trade, it rose 43 percent directly, which means a market capitalization of $ 35.5 billion for Roblox.

Brilliant stock market debut for Roblox’s block graphic designers. The game provider from San Mateo in the US state of California is particularly popular with the younger target group and offers a whole range of games for different devices.

Direct placement at $ 64.50

At the beginning of the first day of trading, the stock opened directly at $ 64.50, above the entry level of $ 45 set on Tuesday. Roblox boss David Baszucki was enthusiastic and described the start of trading as a milestone on a 15-year journey. That reports Reuters.

After deducting unexercised stock options and restricted stocks, market capitalization is $ 35.5 billion for a total company value of $ 42 billion. As recently as January, Roblox had brought in Series H funding of $ 520 million with a company valuation of 29.5 billion. Just eleven months earlier, the company’s valuation was just $ 4 billion.

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Roblox went public by way of a direct placement, not a classic IPO (Initial Public Offering). Accordingly, Roblox listed the securities directly on the stock exchange without a prior pricing process and did not sell any shares in the run-up to their market debut.

This is Roblox

Roblox Corp, founded in 2006, is one of the winners of the corona crisis. Above all, the lockdown measures had caused the demand for entertainment products for your own four walls to rise significantly. Roblox almost doubled its number of users in 2020.

The provider’s games are particularly popular with children under the age of 13. They can even develop their own online games there.

Now Roblox wants to expand into other countries and add offers for older players to its portfolio. The aim is to achieve a situation in which more players over 13 than under 13 are on the platform.

Roblox also offers its own digital currency called Robux. This can be used for purchases within the gaming world, but can also be exchanged for real money. The company has not yet been in the black. Last year alone, Roblox suffered a net loss of $ 253 million.

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