⏱It's open season on Twitter
Roblox's IPO, and vaccine news
Good morning everyone, and welcome to Friday Jr.! It’s practically the weekend!
0:05- Buying stock in Roblox
Roblox, the online gaming platform played by an astonishing 1/3 of US kids under 16, finally went public today after several delays in their IPO process. The stock was listed at a reference price of $45 per share, but almost immediately jumped to $70+, and ended the day with a market cap of $45 billion — $15Bn more than expected. While Roblox has been growing at an astounding rate, it still has yet to make a profit despite $923.9M in revenue during 2020.
0:28- All about those vaccines
Yesterday was a crazy day for the vaccination efforts in America. Not only did Joe Biden announce that he was seeking to buy an additional 100M doses of the Johnson & Johnson vaccine (doubling the initial purchase), but it was also announced that over 60M Americans have received their first dose— that’s 24% of all adults in the country. Researchers are also currently working on booster shots as well that would protect against any future variations of the disease. As of now, there’s not a pressing need, but it’s never a bad thing to be prepared.
0:53- Developing technology is .... not cheap
Apple announced yesterday that they would be investing more than €1Bn Euros in Germany for a European Silicon Design Center that would help with the R&D for its custom Apple processing chips such as the A14 Bionic chip in its phones, or the new M1 chip in Macbooks. The new facility will be over 30k square meters (322k sq ft) in Munich, run on 100% renewable energy, and will begin operations sometime in late 2022.
1:13- Russia threatens another country Twitter
In a statement yesterday, Russia said that it would be slowing communications to Twitter’s site following the social media’s refusal to remove “banned content” that the government requested it to. They also threatened to completely block the site in the country as well if the demands were not met. The content in question was referred to as “child pornography, information on drug abuse, and calls for minors to commit suicide” — all things that Twitter vehemently claims does not exit on their platform.
Have a great rest of your day, and we’ll see you tomorrow bright and early!
-The 90 Second News Team
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