After postponing plans to go public, video game company Roblox Corp. now it says it will have a direct listing of its shares on March 10, a move that occurs at a time of greater demand for home entertainment and online social experiences.
Roblox, based in San Mateo, California, originally planned an initial public offering last year, but suspended it after company employees decided that the strong commercial debut of Airbnb Inc. and DoorDash Inc. made it very difficult to determine the price. right for your actions.
In January, Roblox announced a change of course, saying it had opted for a direct listing. He also said he raised more than half a billion dollars in a $ 29.5 billion valuation for the company, a seven-fold increase from the financing round less than a year earlier.
However, Roblox’s listing plans met another hurdle earlier this month, when the Securities and Exchange Commission requested changes to the way it accounted for the sale of virtual currency called Robux. The company said that these issues have already been addressed.
Roblox, founded in 2004, makes a free online platform with tens of millions of games. The company’s user base skyrocketed with the pandemic, as requests to stay at home meant more people spending time online. It accounted for nearly 33 million daily active users last year, up from about 18 million the previous year.