To keep growing and justify a stock market value that could exceed $40 billion in its direct listing, bringing in more older customers will be key. But at the same time, losses ballooned to $253 million in 2020, up from a $71 million loss in the previous year. Roblox saw $924 million in revenue last year, almost double the $508 million in 2019. Of course, kids 9 to 12 aren’t known for having a lot of spending money for buying new outfits for their avatars and other in-game items. “It’s my hobby that happens to earn me money.” “I love it,” says the teen, who, on Roblox, goes by the name boatbomber. Now he’s collaborating with developers from around the world, whom he’s met on the platform, to build commercial games and tools for other game designers. Zack Ovits, an 18-year-old college freshman, got hooked on making Roblox games with a friend when he was just nine. Roblox gets a cut of all the action, its primary source of revenue. All transactions are made in “Robux,” the company’s own digital currency that can be converted back into real money. Users can also design virtual gear to dress up their online representations, known as avatars, and sell the digital wares to others. Roblox games are free to play, but they can include in-app purchases for items to use in games, like a magical sword or fast race car.
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