User-generated game platform Roblox has seen its users go through the roof in recent years, and the company is reportedly planning to go public early next year at a valuation that could hit $8 billion, according to a report in CNBC.
CNBC said Roblox is working with investment banks to prepare for going public on the U.S. stock market. The company most recently raised $150 million in venture funding from Andreessen Horowitz in a deal announced in February.
Roblox declined to comment on the CNBC report. But one source we contacted confirmed they believe the report is accurate.
The deal wouldn’t be surprising, as other game companies have turned to public markets in recent weeks. The game industry is one of the few sectors that is doing well in the pandemic. Game engine maker Unity raised $1.3 billion at a $13.6 billion valuation in an IPO on September 18, even though it is losing money. Unity’s shares are up more than 60% since trading began.
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Skillz, which turns games into skill-based cash reward competitions, is planning to go public at a $3.5 billion valuation through a special public acquisition company (SPAC).
Roblox is reportedly weighing whether to go through a traditional IPO or a direct listing, CNBC said. In a direct listing, no new shares are sold, and underwriting banks do not weigh in on the pricing, unlike in an IPO. A lot of this depends on the health of the stock market, which has been volatile this year.
CEO Dave Baszucki founded Roblox in 2004, enabling anyone to make Lego-like characters and build rudimentary games for kids. The company has continuously beefed up that capability, and it has grown to more than
Developer Giant Squid has confirmed that the release date for its action-adventure game The Pathless will coincide with the PlayStation 5’s launch, meaning it’ll drop on November 12 as a PS5 launch title.
The November 12 date for The Pathless isn’t exclusive to the PlayStation 5, though. Giant Squid also announced that the game will drop on iOS via Apple Arcade, PC, and PlayStation 4 on the same day.
Thanks to the powerful hardware packed into the PlayStation 5, The Pathless will run at 60 FPS. And with the DualSense’s haptic trigger effects, creative director Matt Nava said players will “feel the force of every arrow shot” while playing The Pathless on PS5 with the latest generation of controllers.
Published by Annapurna Interactive, The Pathless is the latest game from Abzu developer Giant Squid. Players take control of The Hunter, a master archer who must rid the world of a suffocating darkness. By forging a deep connection with an eagle companion and exploring vast environments, players will hunt down a variety of corrupted spirits in order to free them from their imprisonment.
The Pathless joins a growing list of PlayStation 5 launch titles, including the Demon’s Souls remake, looter-slasher Godfall, Marvel’s Spider-Man: Miles Morales, and Sackboy: A Big Adventure.
IronSource is introducing LevelPlay as a broadly available tool to help smaller mobile game and app developers generate higher revenues from advertising.
Launched a year ago, LevelPlay is an in-app bidding tool that is now automatically enabled for every developer, giving them instant access to all bidding networks. Only the biggest publishers previously had access to LevelPlay as the company refined the technology for automating monetization.
In-app bidding flattens the traditional ad waterfall, allowing every demand source to bid for an available impression simultaneously, in real time. This shift speeds things up and increases competition for available ad impressions, which can in turn lead to an increase in revenue.
It means that at the very last second, LevelPlay can insert an ad that might generate more money than another ad would have. LevelPlay helps create more competition among advertisers looking to insert ads into developers’ apps and games. But it also runs the risk of slowing the app or game down, so it has to be handled just right.
“We’ve been working very hard with publishers to promote this agenda for all the industry to take the next step,” said IronSource VP of product Nimrod Zuta in an interview with GamesBeat. “And we believe we’ve made it. The result should be better monetization for app and game companies.”
The mobile advertising industry is facing a lot of uncertainty now that Apple has decided to make targeting individual users harder in the name of protecting user privacy. In a few months, Apple is effectively retiring the Identifier for Advertisers (IDFA). This will make it tougher for companies to decide whether to bid to get a particular ad in front of a particular user. But companies will still be able to determine whether an advertiser should bid on a user based on
Update: Nintendo’s free Switch fitness game, Jump Rope Challenge, was originally slated to be delisted from the Switch eShop on September 30, but that’s no longer the case. As announced on Twitter, the game will now remain available to download “until further notice.”
The original story follows.
Earlier this year, Nintendo released a small fitness game on the Switch eShop called Jump Rope Challenge–a free app that keeps track of how many times you virtually jump rope. If you’ve yet to download it, however, your time to do so is quickly running out, as the game will only be available on the digital storefront until the end of this month.
As the company previously announced, Jump Rope Challenge is being removed from the eShop this Wednesday, September 30. It’s unclear if it will be offered again in the future, so if you’re interested in grabbing it, you should do so before that date.
Nintendo says Jump Rope Challenge was “created by a small group of Nintendo developers while working from home in Japan as a simple game to add some quick and fun movement into their daily lives.” The game uses Switch’s Joy-Con controllers to mimic jump rope handles and tracks how many times you’ve virtually jumped rope each day.
Since its release, Nintendo has rolled out two updates for Jump Rope Challenge. The first added an assortment of costumes based on Nintendo characters, while the second–which arrived earlier this month–introduced a Review Progress screen that you can view after playing 100 days, as well as the option to start a new 100-day cycle. You can download Jump Rope Challenge for free from the eShop or Nintendo’s website.
In other Switch news, Nintendo Switch Online subscribers will soon be able to play another free game: Super Mario