Roblox developer Roblox Corp. has revealed it had $150 million in cash parked at Silicon Valley Bank, the banking institution that recently folded, but the studio is not worried about a negative impact on its business. In a regulatory filing, Roblox Corp. disclosed that about 5% of its $3 billion in cash and securities was stored at Silicon Valley Bank.
“Thus, regardless of the ultimate outcome and the timing, this situation will have no impact on the day to day operations of the company,” Roblox Corp. said.
Roblox Corp. will be just fine, and not only because its cash and assets were not stored exclusively at SVB. The Federal Reserve has announced a bailout for SVB’s customers, including Roblox Corp.