Roblox Developer Goes Public With A Direct Listing, And That's A Big Deal

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It’s a big day for Roblox, as the game’s owner is now listed on the New York Stock Exchange as part of a business move that marks the next stage in the developer’s growth.

Founder David Baszucki was on-hand in New York to ring the opening bell to mark the start of trading for Roblox, which will trade under RBLX. In a statement, Baszucki said, “In 2004, we founded Roblox with the vision of connecting the world. Today, as we celebrate our direct listing on the New York Stock Exchange, we recognize the potential ahead of us: to build the platform where billions of people come together to learn, work, and play.”

A direct listing differs from an initial public offering (IPO). With a direct listing, outstanding shares are sold, compared to an IPO where new shares are created and sold to the public.

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Source: Game Spot Mashup