Business • Markets
Roblox goes public and is instantly worth more than $45 billion
Roblox logo
Roblox logo Credit: Roblox

Roblox, a company that describes itself as a "metaverse" where players can make their own avatars and environments, saw its shares surge nearly 55% to $69.50 after the IPO. Roblox valuation is currently more than $45 billion.

The company generates nearly all of its revenue from the sale of its Robux currency, which can be used to purchase in-game virtual objects. Last year the total revenue was nearly $925 million, up 82% from 2019.

Roblox announced earlier this month that it now expects sales to rise about another 60% this year to a range of $1.44 billion to $1.52 billion.

Technology • Games
Roblox has now over 150 million monthly active users
Roblox Avatar Lineup
Roblox Avatar Lineup Credit: Roblox

The gaming platform Roblox, announced over the weekend, that it has over 150 million monthly active users. The number is a considerable increase over the 115 million it announced in February during the early stages of the Covid-19 pandemic.

During the Roblox Developer Conference 2020, the company also shared that its developer community will earn over $250 million in 2020, up from the $110 million earned in 2019.