🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Roblox takes down China app, says building another version

Published 01/07/2022, 04:48 AM
Updated 01/07/2022, 04:50 AM
© Reuters. FILE PHOTO: The Roblox logo is displayed on a banner, to celebrate the company's IPO, on the front facade of the New York Stock Exchange (NYSE) in New York, U.S., March 10, 2021. REUTERS/Brendan McDermid
TCEHY
-

SHENZHEN, China (Reuters) - U.S. video gaming platform Roblox Corp., has taken down its Chinese app that fronted its expansion efforts into the country, telling Reuters it was part of "a number of important transitory actions" as it builds its next version.

The LuoBuLesi app, which Roblox launched in July in partnership with an affiliate of Tencent Holdings (OTC:TCEHY),, was shut down on Dec. 8, disappearing from mainland app stores. The app now shows users a message thanking them for using the test version when they log on.

The app's importance to Roblox's expansion in China was prominently discussed in the company prospectus for its New York stock exchange listing in March, which saw the gaming platform valued at nearly $30 billion.

A Roblox spokesperson told Reuters late on Thursday that the move was necessary as it builds the "next version of LuoBuLeSi", but did not say when the app would return.

"We always knew that building a compelling platform in China is an iterative process, and we are thankful for the support of LuoBuLeSi users and our global developer community," a Roblox spokesperson said.

"It is critical that we now make the necessary investments, including investments in our data architecture, in order to realize our long-term vision."

Tencent did not respond to a request for comment.

Roblox's platform is known for its virtual world technology, now popularly known as the "metaverse". The LuoBuLeSi platform is separate from Roblox's global version and allows users to create and play games, as well as join virtual 'events'.

© Reuters. FILE PHOTO: The Roblox logo is displayed on a banner, to celebrate the company's IPO, on the front facade of the New York Stock Exchange (NYSE) in New York, U.S., March 10, 2021. REUTERS/Brendan McDermid

Several users complained on social media that they did not realise it was a test. The app has been downloaded 1.7 million times according to Sensor Tower, a data analytics firm.

LuoBuLeSi secured the necessary licenses to operate in China from regulators at the end of 2020.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.