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Tencent with gaming company Roblox to set up a joint venture firm

China’s leading tech firm Tencent Holdings has partnered with Roblox, a California-based video game firm reportedly worth US$2.5bn, to deliver Roblox’s offering in China as well as set up a joint venture (JV) focused on coding and video game development.

Based in Shenzhen, the newly-established company is part of a strategic partnership between Tencent and California-headquartered Roblox to foster innovation among students and teachers who are pioneering Science, Technology, Engineering and Math (STEM) learning and education through interactive online experiences.

roblox

As the largest video game publisher in the world by revenue, Tencent offers the very best in-road to the Chinese market for Roblox which, in turn, augments Tencent’s education initiatives with access to Roblox’s global ecosystem.

"Tencent is the perfect partner for Roblox in China," Roblox founder and CEO Dave Baszucki said in a news release. "They have a deep understanding of the Chinese market and share our belief of the power of digital creation and our vision to bring the world together through play."

Roblox and Tencent have announced a scholarship fund that will see 15 young creators in China attending a week’s creator camp at Stanford University.

The press release added that this is just the first in an array of planned initiatives that will see the two firms driving education and innovation among the next generation of Chinese STEM-based professionals.

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