Rec Room and Roblox Valuations Highlight the Appeal of the Metaverse

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By Eric Abbruzzese | 2Q 2021 | IN-6116


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 ...

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