The San Mateo, Calif.-based company priced its shares at US$45 each. They traded as high as US$74.73 on Wednesday, and closed at US$69.50. (The Logic)
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The San Mateo, Calif.-based company priced its shares at US$45 each. They traded as high as US$74.73 on Wednesday, and closed at US$69.50. (The Logic)
Talking point: Independent developers build games on Roblox’s platform and can charge users in-game Robux for add-ons and items, which they can then turn into fiat currency in the so-called “real world.” The company brought in nearly US$924 million in revenue in 2020, up 81.7 per cent year over year, while developers made almost US$328 million. Roblox’s direct listing means existing shareholders aren’t subject to a lock-up period. Those who’ve seen major net-worth gains today include Canadian-born CEO David Baszucki, and friends and family from his childhood in Eden Prairie, Minn., who own more than seven per cent of the company after providing seed funding.
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