Game and creation platform Roblox has pushed its initial public offering (IPO) until next year.
That's according to Reuters, which has seen a memo from the firm's CEO Dave Baszucki (pictured), written on Friday, December 11th, announcing the delay. This is seemingly inspired by other recent IPOs by the likes of Airbnb and Doordash.
It also seems that the company reckons it can get a higher IPO price in this delay, something those aforementioned firms managed to do.
“We’ve seen companies take innovative approaches to creating a more market-based relationship between investors and companies,” Baszucki wrote.
“We’ve decided to take this opportunity to work with our advisers to see how we can make such improvements.”
Word that Roblox planned to go public broke in October of this year, with the firm apparently looking to double the $4bn valuation that it received in a funding round in February.
Roblox announced its intention to float in October before filing its S1 with the United States Securities and Exchanges Commission (SEC) the following month. This revealed that the games platform had not turned a profit since its launched back in 2004 and that it hoped to raise $1bn by going public.