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- According to a submission from the company, Roblox said it plans to make a direct listing next month.
- Roblox is a video game platform that was last valued at $ 29.5 billion last month.
- The firm had previously planned to launch via a traditional exchange at the end of last year, but delayed its public debut following the volatile opening operations in several IPOs such as DoorDash and Airbnb.
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Roblox finally made an appointment to reveal a date: ‘on or about’ March 10, according to a submission from the company filed with the SEC on Monday.
Roblox is an online platform that allows users to easily develop and play video games. The firm was founded in 2004 and was valued at $ 29.5 billion last month after raising $ 520 million in a series of H-rounds. A year ago, Roblox was valued at $ 4 billion.
Roblox said in the SEC filing that it intends to publish via a direct listing on the New York Stock Exchange and will issue 198.9 million shares.
The firm planned to launch via a traditional exchange at the end of last year, but delayed the process after seeing volatile opening trades in the public debut of DoorDash and Airbnb. Roblox then planned a direct listing that will take place this month, but an investigation into his finances by the SEC has driven back the public debut.
The investigation has since been resolved, with Roblox adjusting its finances, leading to higher revenue and a lower net loss than previously reported. For 2020, Roblox recorded revenue of $ 924 million, representing a year-over-year growth of 82%. The platform averaged 32.6 million daily active users last year, representing an annual growth rate 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 amid the direct listing.