- Roblox Corp has postponed plans to go public because of the U.S. Securities and Exchange Commission’s scrutiny of how the video game platform recognizes revenue in its finances, according to a memo the company sent to employees on Thursday.
Roblox’s valuation skyrocketed to $29.5 billion in a fundraising round earlier this month, more than seven times the $4 billion the company was valued at 11 months earlier, amid a surge in the popularity of video games during the COVID-19 pandemic. The SEC wants Roblox to be more specific and recognize revenue on consumable products as they are consumed, while the durable services will still be recognized over the life of the Roblox user, the memo said.
Great app. Great games. Just one thing..👇👇 SAVE OUR CHILDREN. SAVE THEIR NERVES. SAVE THEIR EYES. SAVE THEIR HEALTH. From screens and softwares.. 😡
😁😇😇😅
Roblox