We want to provide opportunities for people to share and consume music together, share and consume video entertainment together, have more educational experiences together, even work together.
When we think about where Roblox is going, it's not just about play. So we've done with Ava Max and Why Don't We, where these artists come on, play their new songs and they get to interact with their fans. What lessons did you take away from that massive Lil Nas X event?įirst, we will be doing more concerts, and concerts are these big events. So it made sense for us to move forward with a direct listing. It really accelerated a lot of timelines. That would have happened on Roblox anyway, but it probably would have happened a few years from now. We hosted a concert in November with Lil Nas X that over 30 million people attended, one of the largest concerts ever hosted. But as people sheltered in place, it really significantly advanced that. Prior to COVID, there was clearly a long secular shift going on for people, especially the younger generation, doing more things online together. It very much advanced our business model. also brought a lot of creators onto our platform. But we felt very proud of being able to be a place that people could stay socially connected with their friends and host birthday parties. Obviously, it's a horrific time for people all over the world. COVID really accelerated our business in a lot of different ways. We certainly have done a lot of growing up in the last nine months. The last time we spoke, you told me Roblox wasn't ready to go public. So we're not really getting caught up in the whole roller coaster aspect of it all. It's more about where this all nets out a few years from now. We aren't overly focused on what happens in the first few days. One of our cultural values is to take the long view and focus on where we'll be in a few years. How do you feel about going public in this environment? The market has been a bit of a roller coaster over the past couple of days, especially for tech stocks. The interview has been edited for clarity and brevity. In an interview with Protocol, Roblox Chief Business Officer Craig Donato predicted that growth will decelerate as the pandemic subsides, but that the company will ultimately be able to retain and grow its user base with concerts, events and even work-related use cases that go beyond just video games. The video game platform provider's direct listing comes after a blockbuster year, with the number of users growing 122% during the first nine months of 2020. Roblox went public via a direct listing on the New York Stock Exchange on Wednesday, with shares surging 43% to $64.50 on their debut, and valuing the company at more than $40 billion.
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