Game Platform Roblox Goes Public, Now Valued at $45 Billion

Gaming platform Roblox went public on Wednesday and saw its shares rise from a reference price of $45 to $69.50, valuing the company at $45 billion. A year ago, the company was valued at $4 billion. The NPD Group reported that a record-breaking $56.9 billion was spent on gaming in the U.S. in 2020, up 27 percent from 2019. Sony enjoyed a 62 percent rise in profit, and Microsoft recorded a first-ever $5 billion in quarterly gaming revenue. In a hot gaming market, Roblox delayed its listing to more accurately price its shares. Continue reading Game Platform Roblox Goes Public, Now Valued at $45 Billion

Roblox Counting on Older Consumers to Join App, Buy Stock

Roblox, valued last month at $29.5 billion, told prospective investors it is trying to lure older users onto its gaming, concerts and educational platform. Chief executive David Baszucki said the company is counting on older adults not just to join the platform but to buy its stock when it goes public next month. The Apple and Google application has been a top earner during the pandemic, with 2020 revenue jumping 82 percent to $923.9 million and number of hours spent on the platform more than doubling to 30.6 billion. Continue reading Roblox Counting on Older Consumers to Join App, Buy Stock

Amazon and Microsoft Boosting Cloud Services With Startups

San Francisco-based startup Abnormal Security is moving its AI-driven email security software to Microsoft’s Azure Marketplace, in exchange for Microsoft’s promise to sell Abnormal’s services to its enterprise clients. This is the first such deal for Microsoft, which is battling Amazon for cloud computing dominance. Amazon has already inked similar deals; in a January agreement, cloud-cost management software company Apptio expanded its use of Amazon Web Services in exchange for Amazon’s help to sell Apptio’s services to its clients. Continue reading Amazon and Microsoft Boosting Cloud Services With Startups

Studies on Kids and Tech Flip the Meaning of Digital Divide

Experts are coming to grips with the impact of digital technology on children. Educators worried that students from poor homes would find themselves on the wrong side of the digital divide, but, in fact, many states are spending money to make sure that all their students have access to computers, while Silicon Valley parents are choosing to raise their children with traditional toys and non-digital activities. The reason is that technologists are privy to recent research about the dangers of exposing kids to screen time. Continue reading Studies on Kids and Tech Flip the Meaning of Digital Divide

Cisco Systems Plans $3.7 Billion Acquisition of AppDynamics

As part of its push to ramp up software offerings for enterprise customers, Cisco Systems is purchasing software maker AppDynamics Inc. for a premium $3.7 billion, just as the company was about to go public. AppDynamics software helps companies — including airlines, banks and retailers — monitor their applications’ performance and address any potential problems across cloud services offered by Google, IBM and others. The startup was founded by engineer Jyoti Bansal in 2008. Continue reading Cisco Systems Plans $3.7 Billion Acquisition of AppDynamics

Vessel: Former Hulu CEO Launches New Video Sharing Site

Subscription-based, video sharing website Vessel launched yesterday in beta. Developed by former Hulu CEO Jason Kilar, Vessel aims to change the business of online video by offering a $2.99-per-month service that features exclusive early access to professional Web video. Additionally, Vessel will offer creators (such as online personality Connor Franta or fashion video blogger Ingrid Nilsen) 70 percent of ad revenue and 60 percent of subscription revenue. By comparison, YouTube generally offers 55 percent of ad revenue. Continue reading Vessel: Former Hulu CEO Launches New Video Sharing Site