Sections

Find out how to kick start your games industry career

Get Your Free Ticket Today

Roblox delays IPO to 2021

The company is hoping to get a higher IPO pricing by waiting until next year

User-generated games platform Roblox has delayed its IPO to 2021.

According to Reuters, the company is hoping to get a higher IPO pricing, following in the footsteps of Airbnb and Doordash. They both started trading last week -- on the Nasdaq and New York stock exchanges respectively -- and saw their value soar.

"We've seen companies take innovative approaches to creating a more market-based relationship between investors and companies," Roblox's chief executive David Baszucki said in a memo dated from Friday. "We've decided to take this opportunity to work with our advisers to see how we can make such improvements."

Roblox was expected to join the New York Stock Exchange at the end of the year, after filing for an IPO in November. Reports of the company preparing to go public emerged from October, with rumours of a 8$ billion valuation. But Reuters reported that the IPO was valued at $1 billion, with the company now expecting to get more by waiting until early next year.

The Wall Street Journal reported that it would be in January at the earliest, according to its sources.

In the filing from November, Roblox disclosed its revenues from the last three years, showing that it hadn't yet turned a profit since its founding in 2004.

Find out how to kick start your games industry career

Get Your Free Ticket Today

More stories

Roblox reaches agreement with National Music Publishers' Association

The deal opens a negotiation period for music publishers to sign licensing deals with the platform

By Marie Dealessandri

Roblox business model criticized as exploiting children

User-created game platform dinged for low revenue shares, leading creators to pay for advertising, unreasonable policies for cashing out

By Jeffrey Rousseau

Latest comments

Sign in to contribute

Need an account? Register now.