Roblox Corporation facts for kids
Logo since August 2022
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Headquarters in San Mateo, October 2023
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| Public | |
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| ISIN | ISIN: [https://isin.toolforge.org/?language=en&isin=US7710491033 US7710491033] |
| Industry | Video games |
| Founded | 2004 in Menlo Park, California, U.S. |
| Founders |
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| Headquarters |
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U.S.
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Key people
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David Baszucki (CEO) |
| Products | Roblox, Guilded |
| Revenue |  US$2.80 billion (2023) |
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Operating income
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 US$−1.26 billion (2023) |
| US$−1.16 billion (2023) |
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| Total assets | US$6.17 billion (2023) |
| Total equity | US$76.3 million (2023) |
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Number of employees
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2,457 (2023) |
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Roblox Corporation is an American company that creates video games. It is based in San Mateo, California. The company was started in 2004 by David Baszucki and Erik Cassel. They are the creators of the popular game Roblox, which first came out in 2006. As of late 2023, Roblox Corporation has more than 2,400 employees.
Contents
The Story of Roblox
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Roblox Corporation was founded by David Baszucki and Erik Cassel. Before Roblox, David Baszucki had a company called Knowledge Revolution, which made educational software. In 1989, he and Erik Cassel created a 2D physics simulation called Interactive Physics. Later, they made Working Model, which simulated mechanical devices.
In 1998, their company was bought by MSC Software. Baszucki and Cassel held important roles there until 2002. After leaving, Baszucki started an investment firm. Then, in 2004, he and Cassel founded Roblox Corporation. They began working on a video game called DynaBlocks. The game was released in a test version that year. In 2005, its name was changed to Roblox, and it was officially launched on September 1, 2006.
Erik Cassel sadly passed away in 2013. By December 2013, Roblox Corporation had 68 employees. This number grew to 163 by December 2016. In March 2017, the company received a large investment of $82 million. This money helped them grow even more.
Growing Globally
To expand worldwide, Roblox Corporation created Roblox International in 2018. They hired Chris Misner to lead this effort. Under his guidance, Roblox became available in Chinese (with help from Tencent), German, and French in 2019.
By September 2018, Roblox Corporation hired Dan Williams to move Roblox from using outside computer services to its own system. In October 2018, the company bought PacketZoom. This company made software to make mobile networks faster. PacketZoom's team joined Roblox Corporation.
Becoming a Public Company
In February 2020, Roblox Corporation received another big investment of $150 million. This made the company worth $4 billion. By October 2020, Roblox Corporation started planning to become a public company. This means its shares would be traded on a stock exchange. They decided to list their shares on the New York Stock Exchange (NYSE) under the symbol "RBLX". At this time, the company had over 830 full-time employees.
In December 2020, Roblox Corporation bought Loom.ai. This company creates 3D avatars from photos. In January 2021, Roblox Corporation announced it would go public through a "direct listing." This is a different way to sell shares to the public. In the same month, new investments valued the company at $29.5 billion. Roblox Corporation's shares began trading on the NYSE on March 10, 2021. The company was then valued at an estimated $41.9 billion.
In August 2021, Roblox Corporation bought two online communication platforms: Bash Video and Guilded. They paid $90 million for Guilded.
Recent Developments
In March 2023, Roblox and Guidewire Software traded office buildings in San Mateo. Roblox moved to a larger building with 180,000 square feet of office space.
In July 2023, Roblox Corporation started a "Roblox Partner Program." This program helps brands advertise on the Roblox platform by working with developers to create special experiences.
In August 2023, Roblox announced plans for an in-game career center. Players could attend events, listen to podcasts, and talk with real employees. A month later, Roblox reduced its hiring team by 30 employees due to a slowdown in hiring.
See also
In Spanish: Roblox Corporation para niños
