The gaming industry has seen a serious boost since the pandemic. Yes, there was a lot of craze for gaming even before that, but it increased substantially in 2020. People were stuck at homes, and they had very few options for entertainment, so gaming became a viable option for many. This has led to a significant boost in the business of gaming companies. And consequently resulted in the increase of their share prices and revenue. One such company is Roblox, a video game platform for kids, which is now worth over $30 billion.

What makes Roblox so popular? It’s a social gaming platform where users can play a library of games and hang out and chat with their friends. There are games for all ages and tastes — games where you raise a virtual pet, operate a pizzeria with friends or run amok in an open-world take on cops-and-robbers.

A report by Buisnesswire concludes that Roblox Corp is now valued at 29.5 Billion, which makes Roblox one of the most valuable game companies. This was confirmed by Altimeter Capital and Dragoneer Investment Group, which led the rounds, and also confirmed Roblox had raised $520 million through a series of H private placements. According to WSJ and a statement from Roblox, the company which had previously decided to go public in 2020, will now follow Spotify, Palantir, and Slack in going public through a direct listing. This will also further expand on current nature, and the existing shareholders or anyone who owns stocks will be allowed to sell them to the new investors.

Roblox would be the fifth high-profile company to go public through a direct listing, following the likes of music streaming service Spotify Technology SA and data analytics firm Palantir Technologies.

Unlike in an IPO, companies have not traditionally raised any money through direct listings.

Roblox also relies on its own users to develop games for its platform — not giant, publicly traded studios such as Electronic Arts or Activision Blizzard. Its game creation engine, Roblox Studio, allows users to make games and receive a cut of the profits.

“If you think about how to make a game 10 years ago, you had to have a deep knowledge of programming languages,” says Andrew Uerkwitz, senior emerging tech analyst at Oppenheimer and Company. “Now, with Unity or Roblox or several other game engines that are out there, it is actually very easy.”

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