There are 300 developers making more than $100,000 annually on the platform, and more than 1,250 developers made at least $10,000 from virtual sales last year. However, huge demand saw the share price surge 60% on opening to $72 a share, valuing the business at $47bn and Baszucki’s stake at nearly $5bn. The company was given a reference launch price debut of $45 a share by the NYSE based on that funding round. The 58-year-old, better known to Roblox users as his avatar, Builderman, saw his net worth hit $2.8bn after its last funding round in January. When David Baszucki, the co-founder and chief executive, rang the opening bell at the New York stock exchange on Wednesday, the company started its first day trading with a valuation of $29.5bn. The coronavirus has made a mockery of the $4bn the company was valued at after a funding round early last year. Over the last year, daily user numbers have rocketed by 85%, monthly users are up 75%, and the number of hours spent playing have more than doubled to more than 30bn. A year ago, when parents found themselves stuck on Zoom calls working remotely, children stuck at home turned to games, and Roblox saw usage surge by 40% in a matter of weeks. Roblox, like the gaming industry as a whole, has been a huge pandemic winner. The combination has proved particularly addictive among children 56% of its 200 million monthly users and 33 million daily users are aged under 13.
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