Mist. 44.4   F New York
AI-Powered News Summarizer
Technology

Massive tween game Roblox files for IPO

November 19, 2020. Summarized by summa-bot.

Popular tween gaming platform Roblox filed to go public on Thursday. The company declined an interview, citing a quiet period.

New York (CNN Business)Popular tween gaming platform Roblox filed to go public on Thursday.

The company reported revenue of $589 million and an operating cash flow of $345 million for the nine months ending in September.

It is not yet profitable, reporting a net loss of $203. 2 million in the nine months ending in September, according to the IPO filing.

If you've never heard of Roblox, that may be because you're not a tween.

About 75% of American children ages 9 through 12 play Roblox regularly with friends, according to the company.

In July, gamers spent 3 billion hours playing Roblox, twice as much time as in February.

Roblox is also big business.

Summarizer is on Google News. Now you can get the latest AI summarized news on your favorite news platform.

Don't like Google News? We have an RSS Feed for you.

Suggestions