Roblox braces for crucial 2024 amid rising investor concerns
Once a key player in the metaverse realm, Roblox anticipates a challenging 2024 as its investors voice concerns regarding the company’s ability to achieve sustainable profitability. Roblox, previously touted as a metaverse hub within the gaming platform space, is gearing up for a tough year ahead as its financial health continues to deteriorate, as per Sahil Alvi, the founder of Neuron Partners, an early backer of Roblox. In an interview with Fortune, Alvi did not hide his frustrations, noting that Roblox’s shares are still far from its IPO price achieved in Q1 2021. “We’ve been watching the stock languish for the better part of two years. It doesn’t seem the leadership team has gotten the memo that times have changed and markets no longer reward growth for growth’s sake.” Sahil Alvi You might also like: ‘Metaverse technology is still immature, but in 30 years, everyone will use it’ While Alvi did not detail his firm’s st...