ALL THE LATEST NEWS ABOUT THE BUSINESS OF PC GAMES

News

Roblox bumps IPO until 2021

Roblox bumps IPO until 2021

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.


Tags:
PCGamesInsider Contributing Editor

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site PCGamesInsider.biz. In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for GamesIndustry.biz, VGC, Games London, The Observer/Guardian and Esquire UK.

Comments

No comments
View options
  • Order by latest to oldest
  • Order by oldest to latest
  • Show all replies