Nov 19, 2009 (Reuters) -- Roblox is a gaming platform for children. platform, is expected to announce an U.S. stock exchange listing before the end the year.
Here are some details about the company.
WHAT IS IT?
Roblox is a well-known site for kids, with an estimated 164 million monthly active users, according to industry blog RTrack.
Roblox is used by three-fourths (or more) of American children between 9-12 years old. This was the conclusion of an advisor to the company on November. 5.
The platform, which is largely made up of user-generated content, offers software downloads to make games and play them online.
It does not require a minimum age to sign up for its services, unlike many other gaming and social media platforms.
Roblox is targeted at children of all ages and, along with Minecraft, Fortnite and Apex Legends it has seen a huge surge in the number of children playing at home during the coronavirus pandemic.
Roblox claims that its users have spent more than 37 billion hours on the platform to date since 2008.
The company announced in July that its 345,000-strong developer community is expected to earn $250 million in 2020 - an increase from $110 million in 2019.
"Adopt Me!," one of the most played games on the platform, surpassed 10 billion users in the first half of 2020. Meanwhile, another popular game, Piggy, hit almost 5 billion visits.
HOW DOES IT WORK?
Roblox lets users access the platform for free and they can earn money by purchasing premium plans or Robux. Robux is a currency that can be used to buy outfits and other items that can enhance the user experience.
Users need to download the Roblox application on their laptops or desktop devices to play with the Lego-like characters that also lets them join chats and groups to play with other players.
Game developers must download the Roblox Studio extension to create games for the platform.
Creators can earn money by charging users to use their games and by offering in-game purchases.
What are the SAFEGUARDS?
Like many other websites, Roblox offers account controls for parents to limit the way their kids can interact with others on the site. Roblox also offers additional controls for parents such as limiting the child to playing curated, pre-vetted games.
IPO PLANS
For its stock market listing, Roblox is weighing a traditional IPO or a direct listing sources have told Reuters.
Roblox received $150 million from venture capital investors including Andreessen Horowitz in the last quarter of this year. Let's Talk About Games The company was valued at $4 billion.
HOW IS IT REGULATED?
Like other online platforms, Roblox is subject to very little U.S. regulation. Roblox's fraud against its users and the misuse of information regarding users under 13 are two exceptions.
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