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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