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Roblox went public through a direct listing at a valuation in the tens of billions. Its catalogue consists of games made by its own users, many of them young, which raised questions about creators, moderation and revenue sharing.
User-generated content moved from a feature of games to the basis of a company valued alongside major publishers. The listing also put the economics and the responsibilities of platforms whose creators and audience are largely young people onto the public record for the first time.
