Roblox files for IPO and goes public. Through September, the popular tween gaming company saw revenue of $589 million. Despite this fact, the company is not yet profitable. It cited a $203.2 million dollar loss during the same time period, in the IPO filing. When contacted for comment, the company declined to speak at this time. They are in a quiet period during the filing process.
The platform is popular among the tween demographic. According to company data, 75 percent of American children 9-12 regularly play on the system. During this pandemic, children are playing more video games than usual. In July alone, gamers played three billion hours on the system. This figure is twice as large as in February.
READ MORE: Why Private Equity is Interested in Renewable Energy