Finally after so many delays and rumors, the kids-friendly platform Roblox has gone public, IPO. Traders and investors were waiting for so many months to cash in on the opportunity since 2020. Back in November last year, Roblox filed an S-1 with the SEC sharing details of revenues to potential investors.
Roblox is a children-friendly platform famous among the young audience for playing games as well as creating games. It is generally a safe area for children to work and socialize. It is also popular for its scripting language Lua which children learn and apply on the platform. Moreover, the kids platform provides great learning abilities to children and the sky is the limit within the platform.
Roblox on the New York Stock Exchange
Today, Roblox has finally made it to the New York Stock Exchange as a direct listing. This will now allow the gaming platform to openly trade within the market cap. The opening per share was $64.60 which increased to $74.83 per share afterward. Soon after the buying frenzy, the rate per share settled close to $70.
Return on investment, IPO
However, Roblox going public joined many others that have opted for the same. But many are striving hard to make a return on investment for shareholders. This often turns out as the Achillies’ heel for many and that is precisely why Epic Games’ CEO shut down all the rumors of Epic going public. It limits the creative capabilities of companies and shifts the focus from consumer-first to profit-first.
On the contrary, going public allows companies to enjoy financial freedom and become a leader in the industry. The company made an additional $520 million even before going public, this will allow the platform to grow its outreach and offer new opportunities to the younger generation.