The Roblox gaming platform prepares for its IPO

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The Roblox gaming platform, which is very popular with children and young adolescents, is hoping to get $ 1 billion by going public, according to financial documents released Thursday.

The California-based company, which enables users to create their own immersive 3D experiences, generated $ 589 million in revenue for the first nine months of the year, and generated operating cash flow of 345 millions of dollars.

According to financial documents published in preparation for its IPO, Roblox is not yet profitable. It recorded a net loss of $ 203.2 million in the first nine months of the year.

The fundraising target was set at $ 1 billion in these documents submitted to the US stock market authority, but it will likely be changed, according to the Bloomberg agency.

Launched in 2006, Roblox is very popular with young people aged 7 to 13, who can use the platform to play all kinds of games on a wide range of operating systems and devices (iOS, Android, PC, Mac and Xbox).

Roblox earns its income from user spending. If playing is free, you have to get “Robux”, a virtual currency, to make in-game purchases, customize your character or advance more quickly. Revenue shared with the creators of mini-games.

The novel coronavirus pandemic has exploded the use of video games around the world, with millions of people forced to stay at home due to health restrictions.

According to documents provided to the stock market authorities, the number of daily active users of Roblox jumped in the first nine months of 2020, to reach 31.1 million, compared to 17.1 million for the corresponding period of 2019.

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