Most online platforms require users to be at least 13 years old, and the company has faced criticism for inappropriate content on its service. Back in 2018, the service claimed about 12 million daily users. The company said that more than half of its 31.1 million daily users are younger than 13 years old. If you haven’t heard of Roblox, you probably haven’t been around a preteen much in recent years. If you don’t have tweens, you’ve probably never heard of it Here are five things to know about Roblox as it becomes a public company. Roblox acknowledged in its official paperwork with the Securities and Exchange Commission that it is experiencing a huge boost from users isolated during shelter-in-place policies related to coronavirus, but seeks to appeal to a wider, and older, audience to continue growing when things go back to “normal.” The gaming platform features a variety of “3-D digital worlds” that are built by users and developers, providing virtual communities where users can play with friends, and has become even more popular with millions of tweens and teenagers glued to their mobile devices during the COVID-19 pandemic.

That was followed by reports that the company was butting heads with the SEC over how it recognizes revenue from the sale of its Robux currency, further delaying the process. The story changed once more in early January, when Roblox decided it would go the direct listing route instead and scooped up $520 million from investors led by Altimeter Capital and Dragoneer Investment Group, valuing the company at $29.5 billion. Then, Roblox r eportedly told employees it wouldn’t launch the IPO until early 2021 because strong preceding IPOs from Airbnb Inc. 19 after disclosing its plans the previous month. The San Mateo, Calif., company originally filed for an IPO on Nov. Roblox had delayed its public debut for months.

Ipo for roblox