The Roblox Corporation (trading on the ticker as RBLX) went public through a direct listing, rather than Initial Public Offering or IPO, meaning private shareholders could immediately offload their shares with no conversion to common stock. It's more than four times the size of Ubisoft's market cap ($8.15 billion) and five times the price Microsoft paid for Bethesda in yesterday's completed acquisition deal ($7.5 billion). The market cap valuation puts Roblox ahead of much older and bigger publishers and studios in the games industry, including EA ($37.4 billion) and Rockstar and 2K's owners Take-Two ($18.9 billion). The public price after a day of trading is now $69.50 at the close in New York, representing a bump of more than 50% in value, lucky them. Yesterday's opening to the public for the Californian developer came after months of delays and an extra funding round in January, which allowed private investors to get on board at $45 a share. Roblox, the incredibly successful Lego-Minecraft hybrid that kids won't stop playing, has just floated onto the New York Stock Exchange to hit a max valuation of $38 billion.
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