Kid-focused games platform Roblox is apparently looking to float on the US stock market.
That's according to CNBC, which reports that the company is in discussions with investment banks and is eying floating in early 2021. Roblox is reportedly also looking to double the $4bn valuation that the firm received in a funding round in February of this year.
The company is deciding whether to do an initial public offering (IPO) or list directly onto the stock market. With the latter, Roblox wouldn't be selling new shares and banks underwriting the IPO wouldn't have a say on pricing. This would also mean that those with stakes in the company won't have those diluted as they would with an IPO.
Roblox has seen considerable growth in recent years. In July, the company reported that its developers were going to make double the money they made the previous year in 2020. The platform boasts 150m monthly active users – an increase on the 115m that it had in February, too.
Roblox's plans to go public come shortly after engine firm Unity headed to the New York Stock Exchange. This followed years of speculation that the company was heading to IPO and saw the firm hit an $18bn market cap.