Are you ready to turn the gaming platform Roblox into Ro-bucks? The IPO hits the market Wednesday.

This article is not financial advice and I am not a financial advisor.

On Wednesday, the gaming platform Roblox will make its much awaited debut on the stock market. The popular gaming platform which draws comparisons to LEGO and Minecraft will trade under the name RBLX. 

The New York Stock Exchange set a reference point of $45 for the IPO. 

Roblox was supposed to go public last year but the company changed course and held back. The IPO raised $520 million from investors in private funding which gave the gaming platform a $29.5 billion valuation. 

Roblox will debut on Wall Street on Wednesday.

What is Roblox?

The platform is one of the top online gaming platforms for people under the age of 18. There are over eight million developers, 20 million experiences, 30.6 billion hours played and over $329 million paid to community developers. 

Content creators make money selling virtual goods and other in-game upgrades. CEO David Baszucki loves how the content is “taking center stage” for its creators. Anyone can make a game or an “experience” and then download it into the Roblox Studio software.

“Our developers are the real creative geniuses,” said Baszucki. 

In fact, Baszucki wants to see the Roblox platform soar to even higher heights. The CEO wants to see the platform make movies with Roblox content, and creating a “universal translator” for people around the globe to gather in a collective virtual space.

“This is ultimately the dream of so many of us for so many years, way back to the science fiction community,” he said. “We have our own personal vision of the metaverse.”

So while your kids are playing Roblox and getting paid, it’s time for mommy and daddy to get a cut of that action. 

The Closing Bell

The game soared during 2020 due to the coronavirus pandemic. Roblox reported revenue of $923.9 million dollars in 2020 and a loss of $257.7 million. Furthermore, the company seeks to grow out its business by attempting to retain its young users as they get older. 

The gaming platform which is backed by a huge community of gamers will now be looking to be backed by investors. 

It’s unknown specifically how this new IPO will trade once it hits the market. Not to mention, if this stock gets the same backing as the Reddit meme stocks, investors will be extremely pleased. 

For Roblox, who was given a very favorable IPO valuation, it should see a positive response. Given the games growth in the last few years alone, there is positive sentiment that this IPO is one investors will want for the long haul. 

Last year popular IPO Square soared into orbit and are currently trading a steep valuations. Even new IPO Airbnb has doubled from its initial offering price. 

Wednesday morning, once the opening bell rings, I will jump into the Roblox craze. I have never played this game once and in fact, these kinds of games hold no interest for me to play. However, if developers are making millions off this gaming platform, I want a piece of the pie. 

It’s Stonks SZN, baby.

Use the Promo code “couchguy20” or “LLP” at Manscaped.com. Grab some of the best tools in men’s below the belt grooming. Furthermore, using the code you’ll get 20% off of your order AND free shipping. Help out the site and help out yourself by buying some products from Manscaped TODAY.

– Chris Henrique (@ChrisHenrique on Twitter)

What Do You Think? Leave a Comment!

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: