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Roblox IPO filing shows revenue surge

Roblox Arsenal BattleBucks Roblox Corp said on Tuesday it had acquired the intellectual property assets of cognitive assessment start-up Imbellus to sharpen the U.S. online gaming platform's recruitment practices before a planned initial public offering (IPO).

Roblox amortizes revenue from sales on its platform over the duration of its paying user accounts which is around two years. Roblox’s sales in the first nine months of 2020 totaled $1.24 billion up 170% on a year earlier.

The origins of Roblox go back to 1989 when David Baszucki and Erik Cassel started Knowledge Revolution.At the heart of this was a computer program called Interactive Physics which allowed for the creation of 2D simulated labs.

This application was a big hit and many students around the world used it to understand things like what would happen if two cars collide or a home fell apart.

In two years the company will likely more than double its revenue. It made $312.8 million in 2018 Roblox Arsenal Money and in the first nine months of this year the company reported $588.7 million in revenue. Even more impressively it has increased free cash flow from $34.9 million in 2018 to $292.6 million in the first nine months in 2020.

Reuters reported in October that Roblox expects a public listing would double that valuation. The company confidentially submitted paperwork with the Securities and Exchange Commission to go public last month.

Roblox has filed for an IPO of $1 billion a placeholder amount that is expected to change. It plans to list on the New York Stock Exchange under the symbol “RBLX”.

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