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Nov 19 (Reuters) – Children’s gaming platform Roblox is set to announce an U.S. stock market listing prior to the end of the year.
Here are some information about the company:
WHAT IS IT?
Roblox is among the world’s most popular gaming sites for children, with an estimated of 164 million active users in August, according to the industry blog RTrack.
Three-fourths of all U.S. kids between 9 and 12 years old use Roblox, an advisor to the company wrote on Nov. 5.
The platform, which is mostly comprised of user-generated content, provides software downloads for creating games and playing them online.
It doesn’t require an age minimum to sign up for its services, unlike many other social media and gaming platforms.
Roblox is targeted at children of all ages and, like Minecraft, Fortnite and Apex Legends, has seen a huge surge in use from children at home during the coronavirus pandemic.
Roblox says its users have spent almost 37 billion hours to date on the platform since 2008.
In July, the company stated that its strong developer community is on track to earning $250 million in 2020. Online games This is an increase of $110 million for 2019.
“Adopt Me!,” the most played game on the platform, received 10 billion visits during the first quarter of 2020. Piggy, another popular game, received almost 5 billion visits.
What is the process?
Roblox offers users with free access to the platform. Users earn money when players buy premium plans or “Robux,” a currency that they can use to purchase clothes and other extras that enhance the experience.
Users need to download the Roblox app on their mobile or computer devices to play with the Lego-like characters which also let them join groups and chats to interact with others.
Game developers must download the Roblox Studio extension to create games for the platform.
Creators can make money by charging users to play their games, and by offering in-game purchases.
What are the SAFEGUARDS?
Like many other websites, Roblox offers account controls for parents to restrict how their kids can interact with other users on the website. Roblox also offers additional controls for parents, such as restricting the kid to playing curated, pre-vetted games.
IPO PLANS
Sources tell Reuters that Roblox is looking into the traditional IPO or direct stock market listing for its listing.
Earlier this year, Roblox raised $150 million from venture capitalists, including Andreessen Horowitz, valuing the company at $4 billion.
What is the procedure for ensuring compliance?
Like most online platforms, Roblox is subject to little in the way of U.S. regulation. There are some exceptions to this, such as fraud against users by the company as well as misuse of data on users who are under 13.