The online gaming platform Roblox has recently been valued at $4 billion, following a number of other milestones that show Roblox is only going from strength to strength. The most-recent of these is the $150 million in Series G funding that was raised for the platform, as reported by the Wall Street Journal.
Roblox is most popular with the Gen Z audience, younger gamers who enjoy the cute stylisation. Older gamers, those who tend to avoid more serious games or casino games (you can use this William Hill promo code if that includes you), haven’t taken much notice of Roblox at all. The platform appeals most to Gen Z gamers because of the opportunities afforded to them to hang out with friends in it, play games together, and even make games of their own.
Roblox Corporation recently announced that the platform had hit 115 million monthly users. In August 2019 the platform passed Minecraft in monthly active users, gaining 100 million new users at the time.
In 2019 Roblox was valued at $2.5 billion, meaning the value has spiked by $1.5 billion in just a single year. According to Roblox Corporation, half of all American children aged between 9 and 12 use their platform. Only last year it was named as one of the top five most-watched games on YouTube.
Roblox is primarily a social space, open for anyone to use, which is why Gen Z players enjoy it so much. They’re able to interact and socialise with those they may not be able to meet up with any other way. Players can customise their virtual avatar, and even play games with their friends if they want to.
The platform also has its own premium currency that drives its marketplace. Roblox is open for developers and publishers to build and create their own games, as well as assets for their own games, and for others to use. A store allows other developers to buy these assets, or create and sell their own. This has grown so much that even the IRS have started to take note of the goings on in the marketplace.
Since it was launched, Roblox has been updated regularly. Roblox Corporation are in touch with what their players want, whether that’s cross-platform functionality between mobile and PC, or bigger and better games to play. With so many updates, it’s no wonder that so many players return to Roblox month after month.
Investors are clearly very interested in Roblox, hence the recent $150 million raised for it. The platform doesn’t look like its growth will slow soon. With more investment it will continue to grow, and with more growth will come even more investment as it attracts yet more players.
Source: WSJ