In this article, we will be discussing Tiger Global’s top 10 stocks picks and performance based on the hedge fund’s Q1 portfolio.
Chase Coleman is the founder and Managing Partner of Tiger Global Management LLC, a New York-based hedge fund. Coleman worked with hedge fund icon Julian Robertson before establishing Tiger Global.
Tiger Global Management LLC invests in public and private equities in the global web, software, consumer, and financial technology sectors. Tiger Global also invests in small-cap equities and technological start-ups, both of which have significant growth potential. The previous year the fund rose 48%, and with this the Coleman made it to the list of top-earning hedge fund managers for the year. While in 2019 the fund rose 33%. The fund has lost 6.3% in the month of May. This is after the Chinese crackdown caused stock prices of JD.com, Inc. (NASDAQ: JD), Pinduoduo Inc. (NASDAQ: PDD) and Alibaba Group Holding Limited (NYSE: BABA) to decline.
As of the end of the first quarter, Tiger Global Management LLC holds significant stakes in companies including Microsoft Corporation (NASDAQ: MSFT), Amazon (NASDAQ: AMZN), and Facebook, Inc. (NASDAQ: FB)
In Microsoft Corporation, Tiger Global Management LLC owns 13.72 million shares. The considerable investment covers an impressive 7.44% of the fund’s portfolio. Microsoft shares have returned 34.43% to investors over the course of the past 12 months. On July 28, JPMorgan analyst Mark Murphy raised the price target on Microsoft Corporation to $310 from $300 and kept an “Overweight” rating on the shares.
Another notable stock in Chase Coleman’s portfolio is Amazon.com, Inc.. The investor owns a $1.90 billion stake in the company. Amazon currently has a market capitalization of $1.69 trillion. On August 3, Amazon.com, Inc. and Best Buy Co., Inc. (NYSE: BBY) announced the debut of a new line of Insignia F50 Series Fire TVs, the next step in a strategic partnership.
Based on the latest 13F holdings for the first quarter of 2021, Tiger Global Management LLC owns 5.56 million shares in Facebook, Inc. after cutting its holding in the company by 13% from the fourth quarter of 2020. On the other hand, Chase Coleman’s bet on Facebook is also paying off. The company shares are up 40.59% over the last 12 months. On July 29, Truist analyst Youssef Squali raised the price target on Facebook, Inc.to $425 from $400 and kept a “Buy” rating on the shares.
According to the analyst, the company’s higher Q2 results were led by rising advertising prices amid economic improvements, which accelerated growth. Overall, hedge funds are loading up on Facebook, Inc., as 257 out of 866 funds tracked by Insider Monkey held stakes in the company in the first quarter of 2021, compared to 242 funds a quarter earlier. Based on our calculations, Facebook, Inc. ranks 1st in our list of the 30 Most Popular Stocks Among Hedge Funds.
Average investors have to tread the financial markets with extreme caution. Even experts are having a hard time making sense of the rapidly changing world. The hedge fund industry’s reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and February 26, 2021, our monthly newsletter’s stock picks returned 197.2%, vs. 72.4% for the SPY. Our stock picks outperformed the market by more than 124 percentage points (see the details here). We were also able to identify a select group of hedge fund holdings that significantly underperformed the market in advance. We have been tracking and sharing the list of these stocks since February 2017, and they lost 13% through November 16. That’s why we believe hedge fund sentiment is a handy indicator that investors should consider. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.
With this context in mind, here is our list of Tiger Global’s top 10 stocks picks and performance. We used Coleman’s 13F portfolio for the first quarter for this analysis.
Tiger Global’s Top 10 Stocks Picks and Performance
10. Zoom Video Communications, Inc. (NASDAQ: ZM)
Coleman’s Stake Value: $787,226,000
Percentage of Chase Coleman’s 13F Portfolio: 1.81%
Number of Hedge Fund Holders: 54
Zoom Video Communications, Inc. (NASDAQ: ZM) is an American communications technology company. Zoom Video Communications, Inc. was incorporated in 2011 and is placed tenth on the list of Tiger Global’s top 10 stocks picks and performance. Zoom shares have offered investors more than 37% in returns over the past year. The stock is up 17.68% since March 31.
On July 29, KeyBanc analyst Steve Enders upgraded Zoom Video Communications, Inc. to “Overweight” from “Sector Weight” with a price target of $428. On July 18, Zoom Video Communications agreed to buy cloud contact center operator Five9, Inc. (NASDAQ: FIVN) in a stock-for-stock deal worth $14.7 billion. The acquisition will help Zoom Video Communications, Inc. strengthen its footprint with enterprise customers and accelerate its long-term growth opportunities. Zoom stock is up 24.68% since March 31.
The hedge fund chaired by Chase Coleman holds 2.45 million shares in Zoom Video Communications worth over $787 million. Tiger Global Management LLC’s stake in Zoom increased by 70% in the past few months. Just like Microsoft Corporation, Amazon.com, Inc., and Facebook, Inc., Zoom Video Communications, Inc. is one of the best stocks to buy according Tiger Global.
Artisan Partners, in its first-quarter 2021 investor letter, mentioned Zoom Video Communications, Inc.. Here is what the fund said:
“We concluded our campaigns in Zoom Video Communications. We have been paring our position in Zoom for several quarters, anticipating the reduced need for video conferencing as vaccination rates climb and people return to their workplaces. That said, we believe there is a strong case to be made that the pandemic has prompted a permanent inflection in videoconferencing’s importance—sustainably higher remote work arrangements, more online learning and less business travel. Furthermore, the company’s dramatically expanded user base (up 485% YoY in Q3) positions it well to cross sell additional services, Zoom Phone in particular. The long-term future remains bright, but we decided to end our successful investment campaign in favor of opportunities in our pipeline with more attractive near-term growth prospects.”
9. RingCentral, Inc. (NYSE: RNG)
Coleman’s Stake Value: $990,859,000
Percentage of Chase Coleman’s 13F Portfolio: 2.27%
Number of Hedge Fund Holders: 51
RingCentral, Inc. (NYSE: RNG) is an American supplier of cloud-based communications and collaboration solutions for businesses. The company was incorporated in 1999 and is placed ninth on the list of Tiger Global’s top 10 stocks picks. RingCentral, Inc. currently has a $24.57 billion market capitalization. The stock is down 12.83% since March 31.
On June 21, Needham analyst Ryan Koontz initiated a coverage on RingCentral, Inc. with a “Buy” rating and price target of $360. On June 1, RingCentral, Inc. has teamed up with Deutsche Telekom AG (OTC: DTEGY) to help clients of all sizes modernize their corporate communications. Deutsche Telekom will merge their 4G and 5G networks with the world’s best cloud-based communications solution, including team messaging, video meetings, and a cloud phone system.
Tiger Global Management LLC holds 3.33 million shares in RingCentral, Inc. worth over $990 million, representing 2.27% of their portfolio. At the end of the first quarter of 2021, 51 hedge funds in the database of Insider Monkey held stakes worth $3.25 billion in RingCentral, down from 63 the preceding quarter worth $4.40 billion.
Just like Microsoft Corporation, Amazon.com, Inc., and Facebook, Inc., RingCentral, Inc. is one of the best stocks to buy according Tiger Global.
Carillon Tower Advisers, in its first quarter 2021 investor letter, mentioned RingCentral, Inc.. Here is what the fund said:
“RingCentral operates as a provider of software-as-a-service (SaaS) solutions for global enterprise cloud communications. After a stellar final quarter of 2020, the stock suffered a bit as of late, as investors began to worry about the reopening of the economy and perhaps were forced to consider the degree to which the company has benefitted from the lockdowns and the work-from-home environment. Although the shares have pulled back to a more reasonable valuation, we believe there remains significant opportunity for growth in the next three to five years that should come from the numerous channel partnerships the company has been signing recently.”
8. DocuSign, Inc. (NASDAQ: DOCU)
Coleman’s Stake Value: $1,042,820,000
Percentage of Chase Coleman’s 13F Portfolio: 2.39%
Number of Hedge Fund Holders: 60
DocuSign, Inc. (NASDAQ: DOCU) is an American company, which provides cloud-based software. The company was incorporated in 2003 and stands eighth on the list of Tiger Global’s top 10 stocks picks. DocuSign, Inc. shares have gained about 28.54% over the last 12 months. The stock is up 49.16% since March 31.
On July 9, Piper Sandler analyst Rob Owens raised the price target on DocuSign, Inc. to $330 from $300 and kept an “Overweight” rating on the shares. On June 3, DocuSign, Inc. posted earnings for the first quarter of 2021. It reported earnings per share of $0.44, beating market predictions by $0.16. The revenue for the first three months of 2021 was over $469 million, up 57.9% YoY, beating the estimates by $31.42 million. The company has set its second-quarter revenue guidance to $479 to $485 million, versus the consensus estimates of $474.73 million. While the full-year guidance has been set between $2.03 and $2.04 billion versus consensus estimates of $1.99 billion.
Tiger Global Management LLC holds more than 5.15 million shares in DocuSign, Inc., worth over $1.04 billion, representing 2.39% of their portfolio. The hedge fund has increased stakes in the firm by 191% in the past few months.
Just like Microsoft Corporation, Amazon.com, Inc., and Facebook, Inc., DocuSign, Inc. is one of the best stocks to buy according Tiger Global.
ClearBridge Investments, in its second quarter 2021 investor letter, mentioned DocuSign, Inc.. Here is what the fund said:
“We expect rapidly growing disruptors will comprise roughly a quarter of portfolio assets over time and repositioning over the next several quarters will focus on increasing our allocation to these stocks. Our objective with disruptors is to purchase companies early in the development of their market opportunity. DocuSign, a new purchase in the first quarter that we added to significantly over the last three months, is a company we have been following since it was private. Although the growth of its esignature business accelerated during COVID-19 lockdowns, DocuSign is targeting additional markets in today’s anywhere economy and its strong recent results eased fears that the company was simply a pandemic beneficiary.”
7. ServiceNow, Inc. (NYSE: NOW)
Coleman’s Stake Value: $1,078,237,000
Percentage of Chase Coleman’s 13F Portfolio: 2.48%
Number of Hedge Fund Holders: 98
ServiceNow, Inc. (NYSE: NOW) is an American software company. The company was incorporated in 2004 and is ranked seventh on the list of Tiger Global’s top 10 stocks picks. ServiceNow, Inc. currently has a $115.82 billion market capitalization and was able to deliver 34.18% return in the past 12 months. The stock is up 18.67% since March 31.
On July 29, BMO Capital analyst Keith Bachman raised the price target on ServiceNow, Inc. to $650 from $575 and kept an “Outperform” rating on the shares. On July 28, ServiceNow, Inc. posted earnings for the second quarter of 2021. It reported earnings per share of $1.42, beating market predictions by $0.21. In addition, the revenue for the first three months of 2021 was over $1.4 billion, beating the estimates by $40 million. ServiceNow, Inc. also declared subscription revenues of $1,330 million, up 31% year-over-year.
Chase Coleman’s Tiger Global Management LLC owns a $1.08 million stake in ServiceNow, Inc.. There were 98 hedge funds in our database that held stakes in ServiceNow, Inc. at the end of the first quarter of 2021, compared to 96 funds in the fourth quarter of 2021.
Just like Microsoft Corporation, Amazon.com, Inc., and Facebook, Inc., ServiceNow, Inc. is one of the best stocks to buy according Tiger Global.
Palm Capital, in its first quarter 2021 investor letter, mentioned ServiceNow, Inc.. Here is what the hedge fund has to say about ServiceNow in its letter:
“ServiceNow provides software solutions to structure and automate various tasks and processes for large businesses. The company began in 2004 with a solution to help businesses manage the IT services they offer employees and customers. But, unlike the existing solutions in the market, ServiceNow’s offering was built using a modern architecture that was flexible, modular, and user-friendly. And it left the incumbents – large companies such as BMC, IBM, and MicroFocus – playing catch up.
As the company grew to dominate this market, it saw the opportunity to expand its offering to include the broader task of IT Operations Management – or the monitoring and control of an entire business’s IT infrastructure. And over time, its success in improving productivity and user experience in IT resulted in customers asking the company to expand its offering into other business workflows including HR Management and Customer Services – which it has since done….” (Click here to see the full text)
6. Uber Technologies, Inc. (NYSE: UBER)
Coleman’s Stake Value: $1,134,992,000
Percentage of Chase Coleman’s 13F Portfolio: 2.61%
Number of Hedge Fund Holders: 130
Uber Technologies, Inc. (NYSE: UBER), commonly known as Uber, is an American technology company that provides ride-hailing, food delivery, package delivery, couriers, and freight transportation services. Uber Technologies, Inc. was founded in 2009 and is placed sixth on the list of Tiger Global’s top 10 stocks picks. Uber shares have offered investors returns exceeding 28% over the course of the past 12 months. However, the stock is down 23.30% since March 31.
On August 2, Gordon Haskett analyst Robert Mollins initiated a coverage on Uber Technologies, Inc. with a “Buy” rating and price target of $65. On July 19, Uber Technologies, Inc. declared that Uber and Uber Eats customers can now easily access on-demand and scheduled grocery delivery in more than 400 cities and towns across the United States. A new 1,200-store deal with Albertsons Companies, Inc. (NYSE: ACI) is the first significant grocery delivery expansion
Chase Coleman’s Tiger Global Management LLC currently holds 20.82 million shares of Uber Technologies, Inc. that amounts to $1.13 billion. Uber occupies 2.61% of Tiger Global Management LLC total portfolio. At the end of the first quarter of 2021, 130 hedge funds in the database of Insider Monkey held stakes worth $10.53 billion in Uber, down from 135 the preceding quarter worth $10.09 billion.
Just like Microsoft Corporation, Amazon.com, Inc., and Facebook, Inc., Uber Technologies, Inc. is one of the best stocks to buy according Tiger Global.
In its fourth-quarter 2020 investor letter, RiverPark Advisors, LLC, highlighted a few stocks, and Uber Technologies, Inc. was one of them. Here is what the fund said:
“UBER was also a strong contributor, as shares rallied following the approval of California’s Proposition 22 by voters, allowing the company’s California-based drivers to remain independent contractors (rather than become more expensive employees). We believe this news is not just about the 10%-15% of Uber’s revenue tied to California, but the influence this will have on other states reassessing driver pay. UBER also reported strong third-quarter results with Delivery Gross Bookings growing 135% year-over-year, which nearly fully offset a reduction in Mobility Gross Bookings, which were down 50% year over year. Total Gross Bookings for the quarter were down only 10% year over year compared with down 35% last quarter.
Despite the COVID disruption, UBER remains the undisputed global leader in ride-sharing (44% of the Company’s third quarter revenue), with greater than 50% share in every major region in which it operates. The company is also a leader in food delivery (46% of revenue), where it is number one or two in the more than 25 countries in which it operates. We view UBER as more than just ride sharing and food delivery, but also as a global mobility platform with the ability to sell to its more than 100 million users (by comparison, Amazon Prime has 130+ million members) and penetrate new markets of on-demand services, such as grocery delivery, truck brokerage and worker staffing for shift work. At its current $96 billion market capitalization, UBER trades at only 6x next year’s revenue from its two core businesses. Additionally, the company has substantial, seemingly unrecognized, value in its several nascent development businesses and another $12 billion in equity stakes in synergistic businesses around the world.”
5. CrowdStrike Holdings, Inc. (NASDAQ: CRWD)
Coleman’s Stake Value: $1,375,578,000
Percentage of Chase Coleman’s 13F Portfolio: 3.16%
Number of Hedge Fund Holders: 77
CrowdStrike Holdings, Inc. (NASDAQ: CRWD) is an American cybersecurity technology company. The company was incorporated in 2011 and is ranked fifth on the list of Tiger Global’s top 10 stocks picks. CrowdStrike shares have gained about 121.65% in value over the last 12 months. The stock is up 44.76% since March 31.
On July 12, Gregg Moskowitz raised the price target on CrowdStrike Holdings, Inc. to $295 from $255 and kept a “Buy” rating on the shares. On June 3, CrowdStrike posted earnings results for the first three months of 2021. The earnings per share was $0.10, beating market predictions by $0.04. The revenue over the period was $302.84 million, beating the estimates by $11.07 million. The company has set its second-quarter revenue guidance to $318.3 – $324.4 million, versus the consensus estimates of $311.56 million. The company has also set its earnings per share target of $0.07 – $0.09 vs. a consensus estimate of $0.06 during the period.
The hedge fund chaired by Chase Coleman owns more than 7 million shares in CrowdStrike Holdings, Inc., worth $1.38 billion, representing 3.16% of their investment portfolio.
Carillon Tower Advisers, in its first quarter 2021 investor letter, mentioned CrowdStrike Holdings, Inc. (NASDAQ: CRWD). Here is what the fund said:
“CrowdStrike provides cloud-based software used in the security of computers, servers, and mobile phones. The stock pulled back a bit during the quarter as investor sentiment shifted away from stocks with higher valuation multiples. We remain shareholders, as the protection of enterprise assets and cloud workloads from various forms of cyberattacks remains more important than ever for many enterprises, and we believe this will continue to result in a strong demand environment for CrowdStrike’s innovative products and services.”
4. Carvana Co. (NYSE: CVNA)
Coleman’s Stake Value: $1,577,787,000
Percentage of Chase Coleman’s 13F Portfolio: 3.62%
Number of Hedge Fund Holders: 64
Carvana Co. (NYSE: CVNA) is an online used car retailer. The company was founded in 2012 and is ranked fourth on the list of Tiger Global’s top 10 stocks picks. Carvana shares have returned 90.89% to investors over the past year. The stock is up 26.11% since March 31.
On July 28, Wells Fargo analyst Zachary Fadem raised the price target on Carvana Co. to $385 from $360 and maintained an “Overweight” rating on the shares. On June 30, the company announced that it is expanding its footprint in Kansas and will now provide residents of the Wichita area, with as-soon-as-next-day touchless home delivery.
Customers can browse more than 30,000 used automobiles for sale, apply for auto financing or utilize the car loan calculator, buy, trade-in, and schedule next-day vehicle delivery. On May 6, Carvana Co. declared earnings for the first quarter of 2021. It reported earnings per share of -$0.46, beating the estimates by $0.21. The revenue for the first three months of 2021 was over $2 billion, up 104.5% YoY, beating the estimates by $300 million.
Tiger Global Management LLC holds 6.01 million shares in Carvana Co., worth over $1.58 billion, representing 3.62% of their portfolio. In addition, hedge fund sentiment increased for Carvana in the first quarter of 2021. Insider Monkey’s data shows that 64 elite hedge funds held stakes in the company at the end of the first quarter, up from 63 funds a quarter earlier.
Steel City Capital, in its first quarter 2021 investor letter, mentioned Carvana Co.. Here is what the fund said:
“Carvana’s (CVNA) 4Q’20 results weren’t particularly great. EBITDA was negative ($70) million, a stark turnaround on a sequential basis from a first-ever EBITDA profit of $21 million in 3Q’20. The culprit was a steep drop off in retail unit GPU ($1,265 vs. $1,857) and wholesale unit GPU ($358 vs. $1,113) as some of the COVID-driven aberrations in the used car market began to abate.
The company’s presentation of EBITDA (calculated “bottom up”) is dubious, as it commingles non-operating items including mark-to-market changes in its retained securitization portfolio. With the exception of 1Q’20, when ABS markets were going haywire, this line item provided a tailwind throughout 2020, including a gain of $5 million in 4Q’20. Also on the non-operating self-help front, management released a reserve for vehicle service contract cancellations in 4Q’20, adding another $7 million to EBITDA, and boosting “Other” GPU by $96.
Putting it all together, I put operating EBITDA closer to negative ($82) million vs. the $70 million printed by the company. This is a larger loss than 4Q’19 (calculated on a similar operating basis) despite the company selling 43% more retail units y/y!…” (Click here to see the full text)
3. Apollo Global Management, Inc. (NYSE: APO)
Coleman’s Stake Value: $1,641,284,000
Percentage of Chase Coleman’s 13F Portfolio: 3.77%
Number of Hedge Fund Holders: 44
Apollo Global Management, Inc. (NYSE: APO) is a global alternative investment management firm. It was founded in 1990 and is ranked third on the list of Tiger Global’s top 10 stocks picks. Apollo shares have returned 22.82% to investors during the course of the past 12 months. The stock is up 29.53% since March 31.
On July 15, Apollo Global Management, Inc. announced that Arthur Kill Terminal granted its affiliates the exclusive right to invest in the Arthur Kill Terminal (AKT) project, a large offshore wind energy staging and assembly port now under construction in Staten Island, New York. The Arthur Kill Terminal project is coordinating with the company’s renewable energy infrastructure capabilities. On July 12, Citi analyst William Katz raised the price target on Apollo Global to $76 from $72 and kept a “Buy” rating on the shares.
Tiger Global Management LLC holds more than 34 million shares in Apollo Global Management, Inc. worth $1.64 billion, representing 3.77% of their investment portfolio. In addition, there were 44 hedge funds in our database that held stakes in Apollo Global at the end of the first quarter of 2021, compared to 30 funds in the quarter earlier.
2. Sea Limited (NYSE: SE)
Coleman’s Stake Value: $2,121,913,000
Percentage of Chase Coleman’s 13F Portfolio: 4.88%
Number of Hedge Fund Holders: 98
Sea Limited (NYSE: SE) is a consumer internet company. The company was incorporated in 2009 and is placed second on the list of Tiger Global’s top 10 stocks picks. The shares of Sea Limited have shown an impressive performance over the last 12 months, gaining 94.52% in value. The stock is up 31.48% since March 31.
On July 22, Morgan Stanley analyst Mark Goodridge raised the price target on Sea Limited to $320 from $300 and kept an “Overweight” rating on the shares. On May 18, Sea Limited posted earnings results for the first three months of 2021. The earnings per share was -$0.62, missing market predictions by $0.07. However, the revenue over the period was $1.8 billion, beating the estimates by $20 million.
Tiger Global Management LLC holds 9.51 million shares in Sea Limited worth over $2 billion, representing 4.88% of their portfolio.
ClearBridge Investments, in its second quarter 2021 investor letter mentioned Sea Limited. Here is what ClearBridge Investments has to say about Sea Limited:
“We have also been active in managing our growth exposure in the IT and Internet sectors. In addition to sales of several emerging growth names, we added a new emerging growth company in Sea Limited. Sea operates a leading global video game platform (Garena), the leading e-commerce platform in Southeast Asia (Shopee) and an emerging payments/digital banking segment (SeaMoney). While the company is investing heavily into e-commerce and payments, we like the fact that this growth is being funded by its highly profitable gaming segment. We see a long runway for growth across Sea’s businesses with multiple opportunities like e-commerce expansion in Latin America not fully factored into the valuation today. The company also has a well-respected management team that has successfully executed in expanding its total addressable market.”
1. Roblox Corporation (NYSE: RBLX)
Coleman’s Stake Value: $2,621,003,000
Percentage of Chase Coleman’s 13F Portfolio: 6.02%
Number of Hedge Fund Holders: 46
Roblox Corporation (NYSE: RBLX) develops and manages an online entertainment platform. The company was incorporated in 2004 and is ranked first on the list of Tiger Global’s top 10 stocks picks. Roblox shares have offered investors returns of 16.37% in the past 3 months. The stock is up 25.94% since March 31.
On July 13, Benchmark analyst Mike Hickey initiated a coverage on Roblox Corporation, rating the stock as “Sell,” with a price target of $75. On May 10, Roblox posted earnings results for the first three months of 2021. The earnings per share was -$0.46, missing market predictions by $0.24. The bookings over the period were $652.3 million, up 161% YoY, beating the estimates by $572.3 million.
The stock is a new arrival on Chase Coleman’s portfolio, as his hedge fund bought more than 40 million shares in Roblox Corporation worth over $2.62 billion. This represents 6.02% of their portfolio. The company is also getting the attention of the smart money, as 46 hedge funds tracked by Insider Monkey reported owning stakes in the company at the end of the first quarter of 2021.
Guardian Fund, in its second quarter 2021 investor letter, mentioned Roblox Corporation. Here is what Guardian Fund has to say about Roblox Corporation in its letter:
“The wonder-tale stories of children’s books show us that there are infinite possibilities of stories and worlds. The metaverse, the idea that describes the shared 3D spaces in a virtual universe, is enabling people to create fiction. Over the past six months, we initiated a new investment in Roblox. The firm was founded in 1989 by David Baszucki and Erik Kassel when they programmed a physics lab where students could study how cars would crash.
Today, Roblox has become a leading platform with a mission to build a human co-experience that enables billions of users to play, learn, and build friendships in the metaverse. Recent advances in cloud computing, computing devices, and machine learning, enable the materialization of the metaverse. Take what we have in virtual reality today and fast-forward a few decades. Humans will be able to experience unimaginable things and in a couple of millennia virtual economies are likely to become bigger than the physical trade on planet Earth.
Over the first quarter of 2021, Roblox reported 140% revenue growth, 42.1 million daily active users, and 9.7 billion engaged hours. The opportunity for this platform is massive.”
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This article is originally published at Insider Monkey.
