![]() In a more positive story for video game creation platforms, Buildbox has announced that it has raised USD$20m (£14.6m) for recruitment and to launch a new advertising programme. It will, however, take us some time to update this change in our financial statements." Buildbox raises USD$20m (£14.6m) In the internal memo, Roblox Founder and CEO David Baszucki writes, "By adopting that accounting position, our revenue will actually be a bit higher, while bookings, DAUs (daily active users), hours of engagement, and cash flow will not change. The delay follows the postponement in December of its then-mooted IPO, after which Roblox executives instead opted to raise USD$520m (£380m) in Series H funding ahead of a direct listing. According to an internal memo obtained by Reuters, circulated on Thursday (28th January), the SEC wants revenue derived from consumable products (ie Robux) to be recognised as they are consumed rather than being accounted for under durable lifetime services. ![]() Roblox Corporation has delayed its plans to publicly list its shares on the New York Stock Exchange in February, after falling under the scrutiny of the US Securities and Exchange Commission (SEC) over how it categorises revenue generated via the sale of its Robux virtual currency. ![]() In today’s news: Roblox to delay listing for second time Buildbox raises USD$20m (£14.6m) and Pocket Worlds secures USD$7m (£5.1m) for mobile MMO. TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. ![]()
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