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- Roblox said it plans to go public through a direct listing next month, according to a company document.
- Roblox is a video game platform most recently valued at $ 29.5 billion last month.
- The company had previously planned to go public through a traditional IPO at the end of last year, but delayed the public debut after the opening of volatile negotiations on several IPOs, such as DoorDash and Airbnb.
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Roblox finally set a date to go public: “on or close to” March 10, according to a company document filed with the SEC on Monday.
Roblox is an online platform that allows users to easily develop and play video games. The company was founded in 2004 and was valued at $ 29.5 billion last month, after raising $ 520 million in a Series H round. A year ago, Roblox was valued at $ 4 billion.
Roblox said in the SEC filing that it plans to go public through a direct listing on the New York Stock Exchange and will issue 198.9 million shares.
The company had planned to go public through a traditional IPO at the end of last year, but delayed the process after it saw the opening of volatile negotiations at the public debut of DoorDash and Airbnb. Roblox then planned a direct listing to take place this month, but an SEC investigation into his finances has postponed the public debut once again.
This consultation was resolved, with Roblox readjusting its finances, resulting in higher revenues and a lower net loss than previously reported. For 2020, Roblox recorded $ 924 million in revenue, representing an 82% year-over-year growth. The platform had an average of 32.6 million daily active users last year, representing an annual growth of 85%.
Roblox will trade under the symbol “RBLX” and Goldman Sachs, Morgan Stanley and Bank of America Securities will serve as financial advisors to the company through the direct listing.