Sat. Sep 18th, 2021
Roblox
Views: 436

Robloz is popular gaming platform. On Monday it has announced that they have filed confidentially for a public offering. However, the number of shares which they are about to sell also their price range is not decided yet. According to the sources the company has submitted a draft registration. They have submitted it with Securities and Exchange Commission. This will lead to sell their shares of its common stock. Earlier the company was planning to go public on October 1 also they could target a valuation of around $8 billion. Although this depends on the market demand of its share. In February it was valued for $4 billion. This happened just after they raised $159 million in a Series G funding round. However, the way of Public market is not decided that. Either they use traditional method of initial public offering or they could use direct listing. But this Direct Listing has gained too much attention in context of shares. This allows firms to begin trading publicly without selling new shares and watering down the stock’s value. However, in such listing the funds are not raised.

Roblox

Transformation of tech stack

Robloz was launched in 2005. And now it is one of the fastest growing company. But its technology is getting obsolete. So the company is well known about the disadvantages that it could no more grow in the field. The time has gone when the users have patience. But it is also gaining popularity. So for the best technological changes they have hired Dan Williams in 2017. He is considered as one the best person in this field. Later he has put company on the road to cloud native. This was the turning point for the company. And thus might be the reason for its high market demand.

ALSO READ : Nokia 215 4G and Nokia 225 4G launched in China – Know Full Specification and Price

2020 growth of gaming industry

However, we all are aware about the growing gaming industry these days. And this year all because of lockdown and lack of jobs everyone is just involved in playing games. Roblox has faced a down in 2019 for tech IPOs. The rebound of public markets in mid pandemic has provided awful wide window for tech startups. The company offers sell to both consumers and developers. This is also shipping a free to play version of the future. This has gained a lot of attention of the young audiences.

Author

Somya Somya

Somya is an associate writer at the media hub. Quiet by nature, She is an avid Lacrosse player. She regularly contributes to the technology section and manages staff writers. You can contact him at [email protected]

By Somya Somya

Somya is an associate writer at the media hub. Quiet by nature, She is an avid Lacrosse player. She regularly contributes to the technology section and manages staff writers. You can contact him at [email protected]

Leave a Reply

Your email address will not be published. Required fields are marked *