Roblox

Roblox, a multi-platform game development and socialization platform, launched an open beta version compatible with Meta's Quest VR headsets in July 2023, which included the Quest 2 and Quest Pro, with an intention to also support the forthcoming Quest 3. The VR support comes with an age restriction for users above 13 years.

In addition, the Quest-optimized version of Roblox would support cross-platform play, thereby extending the social capabilities of VR by allowing players on Xbox, mobile, and desktop to interact within the game. Although Roblox previously supported VR on PC-based headsets like the Oculus Rift and HTC Vive, accessibility is set to improve with the Quest version. The Quest version would be downloadable directly from the Meta Quest Store, without requiring a PC-headset connection. The platform has over 15 million active experiences, some of which, due to their use of default player scripts, would be automatically published for VR use. 

On a broader level, Roblox is a digital platform where creators can build 3D experiences using the Roblox Studio, share them with others, and engage in various activities like gaming, learning, and socializing. The platform adopts a freemium model, giving free access to its vast content library while also providing premium options through the sale of "Robux," its in-game currency. Creators can earn Robux by selling in-game items, game passes, and dev products, or by accruing time-based payouts from premium subscribers.

In September 2023 , Roblox announced a host of new updates at its 2023 Roblox Developers Conference (RDC), including a GenAI assistant for world creation, a new video chat feature, a port to PlayStation (PS), and a change in revenue split with creators on its marketplace.

Funding and financials

Originally backed by Altimeter Capital, Dragoneer Investment Group, Investment Group of Santa Barbara, and Warner Music Group, Roblox was directly listed on the New York Stock Exchange (NYSE) under the ticker “RBLX” in March 2021, with a market cap of ~USD 39 billion.

In FY2023, Roblox generated USD 2.8 billion in revenue, up 26% YoY. However, the company’s consolidated net loss grew to USD 1.2 billion from USD 0.9 billion in FY2022. The company guided revenue to be between USD 3.3 - USD 3.4 billion for FY2023, alongside a consolidated net loss of USD 1.4 billion - USD 1.37 billion.