Roblox was reportedly slow to get off the ground, but its popularity exploded last year amid the COVID-19 pandemic. The current version is free to play on computers, iPhones, Android smartphones and Microsoft’s Xbox gaming console. Roblox traces its roots back to 1989, when founders David Baszucki and Erik Cassel created a digital lab called Interactive Physics that allowed students to simulate car crashes or build destructible houses.īaszucki sold the company behind Interactive Physics before he and Cassel started Roblox in 2004 before launching the game’s first iteration two years later. Users can interact with friends through their virtual avatars and spend digital currency known as Robux, which can be converted into real dollars. Roblox runs a sprawling platform where people can both build their own immersive video games and play the games created by others. Roblox trudged a long and winding road to its direct listing on the New York Stock Exchange, but it got a massive boost from the coronavirus lockdowns that shut gamers in their homes last year with little else to do. Roblox shares started trading at $64.50 apiece, giving it a market value of roughly $36 billion, according to CNBC - up from the $29.5 billion price tag it snagged in a private fundraising round in January.ĭozens of rookie investors on Reddit and other social media sites were talking about the stock Wednesday, suggesting it could be embraced by the army of retail traders that’s boosted the share prices of GameStop and other companies. The Silicon Valley company behind a massive world of social video games went public Wednesday after a year of explosive growth. Roblox just became Wall Street’s hottest new tech stock - but your kid was probably a fan already. Game controller used on Titan sub hit with sarcastic Amazon reviews: It ‘sank my submarine’ĬEO of missing Titanic sub company once downplayed dangers of the voyage: ‘Shouldn’t take a lot of skill’ Level up with the 18 best Amazon Prime Day 2023 gaming deals: Video games, more Microsoft, UK regulators given more time to resolve dispute over $75B Activision deal
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