Roblox execs had been casting 'a long view' toward this milestone for some 15 years, he added. 'We don't feel like we're a rebel at all,' Baszucki told Insider. In an interview with Insider on Wednesday as the company watched the trading performance, Roblox CEO Dave Baszucki said the pivot to direct listing from a traditional IPO felt like ' a natural way to do it.' That's compared with a valuation of $29.5 billion in its last private funding round. Roblox closed the trading day with shares trading at $69.50 each, giving it a market cap of more than $38 billion and a fully diluted valuation of around $45.2 billion.

Leading up to the debut, Roblox made a big switch from its original plans to go public via a traditional initial public offering. Video-game maker Roblox finally went public via a direct listing on the New York Stock Exchange Wednesday. Visit the Business section of Insider for more stories.Direct listings provide some benefits over the traditional IPO process, supporters say.Goldman Sachs, Morgan Stanley, and Bank of America advised on the listing.Roblox went public on the New York Stock Exchange on March 10 via a direct listing.Account icon An icon in the shape of a person's head and shoulders.

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