![]() This gives Roblox a huge opportunity to tap into the Chinese market. Luobu’s focus is on creating opportunities for local Chinese developers to learn Roblox Studio for building and publishing experiences and content. This publishing license has not yet been issued. Tencent currently intends to publish and operate a localized version of the Roblox Platform as a game in China under the name “Luobulesi.” Prior to publishing “Luobulesi”, Tencent must receive a publishing license from the National Radio and Television Administration of the Chinese government that entails a review of the content of Luobulesi to confirm that such content is not in contravention with the requirements of Chinese law. Through a wholly-owned subsidiary based in Shenzhen branded “Luobu,” the China JV is engaged in the development, localization and licensing to creators of a Chinese version of the Roblox Studio and also develops and oversees relations with local Chinese developers. Under the joint venture agreement, it created Roblox China Holding Corp., with a 51% ownership interest. In February 2019, Roblox entered into a joint venture agreement with an affiliate of Tencent Holdings Ltd., a leading internet company in China and one of the world’s largest gaming companies.
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