Rec Room and Roblox Make Valuation Waves
In March, two big names in virtual spaces drew attention for significant valuations. Rec Room, the social VR platform, raised US$100 million, which resulted in a US$1.25 billion valuation. Revenue grew at more than 500% in 2020, paired with 1 million monthly active users and 15 million lifetime users. VR is 25% of Rec Room’s user base. Roblox made similar news, after going public with a direct listing and a valuation over US$40 billion. While VR is not the primary portfolio element for Roblox, the platform’s flexibility in content means that there are a few VR-enabled titles as part of the ecosystem. The company claims more than 18 million “worlds” and experiences and 33 million daily users, with nearly US$2 billion spent on the platform’s virtual currency.
These two announcements join an increasingly active market in virtual spaces, sometimes called metaverses—virtualized spaces to facilitate social ...
You must be a subscriber to view this ABI Insight.
To find out more about subscribing contact a representative about purchasing options.