Roblox Corp. Could Have Lost $150 Million In SVB Crash, They'll Be Getting It Back Though

By now, most of you have probably heard about Silicon Valley Bank’s recent failure. If you’ve been following it, you likely know that while the FDIC won’t be bailing out the bank itself, they will be the clients who had money there. Usually, the FDIC only covers accounts for up to $250,000, but in this case, the FDIC advises that clients of the bank will be able to access all their money today.

One of the clients is Roblox Corp. the developer of the popular game Roblox. The company had $150 million deposited with Silicon Valley Bank – approximately 5% of the company’s full value of $3 billion. The company recently made a statement that the bank’s failure won’t have an impact on their day-to-day operations – partially because of the FDIC assuring they will still have access to the $150 million at SVB.

Attempts were made to find a buyer for SVB, but that didn’t happen. The result is the second-biggest bank failure in the US. The third largest also occurred recently with Signature Bank, which was seized on Sunday. Roblox will be fine, however. They have their money and a 60-million daily active player base.