Gaming platform Roblox to postponed IPO until 2021

Published:

On: Dec 2020

The United States gaming platform Roblox has its proposed initial public offering (IPO) until 2021 as it operates with advisers to enhance the process to advantage workers and investors, the firm told workers in a statement.  The chief executive of Roblox David Baszucki said in a report that we have observed companies take creative perspectives to generating an additional-oriented relationship between several companies as well as investors.

He said that we have decided to take this opportunity to operate with different advisers to observe how we can generate such advancements. Mr. Baszucki stated that the United States leading gaming platform firm Roblox anticipates to list early 2021. The San Mateo, which is the California-located company had filed to gain $1 billion through an IPO on the New York Stock Exchange and was anticipated to accompany a year-end IPO wave.

A person familiar with the firm said that it believed to get a larger IPO pricing after observing Airbnb and DoorDash increase on their 1st day trading this week, which it looks as major examples of firms underpricing shares of IPO and releasing money on the table. The Wall Street Journal currently reported that Affirm Holdings is also delaying its IPO. The lending startup firm which had been set to start marketing its shares to investors this upcoming week for a listing of December which will not go public until January at the initial phase.

Whereas, DoorDash gained nearly $3.4 billion and its stock increased as much as 92 percent on the 1st day of trading, while Airbnb climbed as much as 142 percent in its $3.5 billion IPO. In 2020, Roblox had drifted the concept of a direct listing in which existing investors auction their shares and investment banks play medium of a role but in the end selected the path of IPO.