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Roblox is an online game platform and game creation system that allows users to program games and play games created by other users. Founded by David Baszucki and Erik Cassel in 2004 and released in 2006, the platform hosts user-created games of multiple genres coded in the programming language Lua. For most of Roblox's history, it was relatively small, both as a platform and a company, due to both co-founder Baszucki's lack of interest in press coverage and it being "lost among the crowd" in a large number of platforms released around the same time. Roblox began to grow rapidly in the second half of the 2010s, and this growth has been accentuated by the COVID-19 pandemic.[7][8]

Roblox is free-to-play, with in-game purchases available through a virtual currency called "Robux". As of August 2020, Roblox has over 164 million monthly active users, with it being played by over half of all children aged under 16 in the United States.[9][10] The Roblox Corporation, which develops, publishes, and operates the game, has an estimated $29.5 billion valuation as a result of this large playerbase.[11]
HISTORY AND DEVELOPMENT

The beta version of Roblox was created by co-founders David Baszucki and Erik Cassel in 2004, originally under the name DynaBlocks.[40] Baszucki started testing the first demos that year.[41] In 2005, the company changed its name to Roblox,[41] and it officially launched on September 1, 2006.[2] In March 2007, Roblox became compliant with COPPA, with the addition of safe chat, a change that limited the communication ability of users under the age of thirteen by restricting them to selecting predefined messages from a menu.[42] In August, Roblox applied server improvements and released a premium membership service named "Builders Club".[43] This paid membership feature was rebranded as Roblox Premium in September 2019.[44]

In December 2011, Roblox held their first Hack Week, an annual event where Roblox developers work on outside-the-box ideas for new developments to present to the company.[45][46] On December 11, 2012, an iOS version of Roblox was released,[4] and on July 16, 2014, an Android version was released.[5] On October 1, 2013, Roblox released its Developer Exchange program, allowing developers to exchange Robux earned from their games into real-world currencies.[47]

On May 31, 2015, a feature called 'Smooth Terrain' was added, increasing the graphical fidelity of the terrain and changing the physics engine from a block-oriented style to a smoother and more realistic style.[48] On November 20, Roblox was launched on Xbox One, with an initial selection of 15 games chosen by Roblox staff.[6] New Roblox games for the Xbox One have to go through an approval process, and are subject to the Entertainment Software Ratings Board standards.[49]

In April 2016, Roblox launched Roblox VR for Oculus Rift. At the time of release, more than ten million games were available in 3D.[50] Around the same time period, the safe chat feature was removed and replaced by a system based on a whitelist with a set of acceptable words for users under 13 years old and a set of blacklisted words for other users.[51] In June, the company launched a version compatible with Windows 10. While the game platform has had a presence on the PC since 2004, when its web version was created, this was the first time it was upgraded with a standalone launcher built for Windows.[52] Also in June, the Roblox Corporation was sued by Cinemark Theatres for alleged trademark violations.[53]

Throughout 2017, Roblox engaged in a number of updates to its server technology, as the technology they were operating on until that point was out of date and led to frequent outages.[54] In November 2018, the ability for a player to play as a "guest", without an account, which had been progressively restricted over the previous two years, was removed entirely.[55] In February 2019, Roblox entered into a joint venture with Songhua River Investment Limited, an affiliate of Tencent, in order to create a localised version of the platform. As of November 2020, the Chinese National Radio and Television Administration had not yet issued the license required to make Roblox available in China.[56][57] In July 2020, Roblox announced the creation of “Party Place”, which functions as an online hangout. The feature was created using new technology that had been used during the 2020 Bloxy Awards, and was designed in response to the COVID-19 pandemic.[58]

In November 2020, the Roblox Corporation announced its intentions to become a public company with appropriate filings with the U.S. Securities and Exchange Commission.[59][60] Following a $520 million investment round in January 2021, Roblox announced it would be issuing a direct public offering in the near future.[11] In late January 2021, it was announced that Roblox had delayed its plans to become public to February due to the U.S. Securities and Exchange Commission's insistence that the company alter its ways of tracking revenue from the purchasing of Robux.

-SOURCE: WIKIPEDIA

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