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Silly Meta, Roblox isn’t just for kids

February 20, 2023
Source: reuters.com reuters.com
News Snapshot:
NEW YORK, Feb 15 (Reuters Breakingviews) - Video-game and social-media hub Roblox (RBLX.N) isn’t playing around when it comes to expanding its audience. The company behind MeepCity and Royale High has been racing alongside Meta Platforms (META.O) to turn the metaverse into more than just a vague buzzword. Despite being unprofitable and considerably smaller than Facebook’s owner, it is putting up a solid fight. Roblox shares surged another 25% on Wednesday, adding $5 billion of market value – roughly the same amount Meta lost in a broadly flat market – after it reported that quarterly in-game purchases using its virtual...
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