And if any other company wanted to acquire Roblox, it will be far more expensive after today. With the higher-than-expected valuation, Roblox will be able to raise money in the future at a much higher price than it could have just a short time ago. And one of the things that we need to make sure that we are able to do is really to step into that vision, and that requires a lot more people. As you know, we have big aspirations for where Roblox can go. “Raising the profile of the company and supporting our recruiting efforts is a great thing.
“This will raise the visibility to the company, which is super important as we try to hire more and more folks to the company,” Donato said. And since the company gets a 30% cut from the revenues generated by its user-generated games, the company’s bookings for 2020 were $1.9 billion, double what they were the year before. The reason for that skyrocketing valuation is that the company saw huge increases in players during the pandemic. Though it chose not to raise money today, Roblox itself still has plenty of cash, as it brought in $520 million in private funds last month at a $29.5 billion valuation, which was seven times its value from a funding round from nearly a year before. It’s nice to just take the moment for today to reflect on that.”
“We don’t normally take these moments to touch the trophy. “It’s a nice moment to step back,” said Roblox chief business officer Craig Donato in an interview with GamesBeat today. Shares are already trading above $70 a share. The shares are trading under the RBLX stock symbol on the New York Stock Exchange. Roblox‘s employees and shareholders sold more than 388.2 million shares out of a total 650 million available.
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