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Friday, October 23, 2020

Roblox confidentially files to go public

Online gaming service Roblox.

Lionel Bonaventure | AFP | Getty Images

Gaming company Roblox announced Monday it confidentially filed with the Securities and Exchange Commission to go public.

The company didn’t disclose its financial information and how many shares would be offered. Roblox most recently was privately valued at $4 billion in late February, after venture capital firm Andreessen Horowitz led a $150 million Series G funding round.

Reuters, which first reported the company’s plans to go public, said Roblox expects that a listing could double its valuation. A Roblox spokesperson declined to comment.

Founded in 2004, Roblox offers users free-to-play games across mobile devices and consoles. Gamers can purchase digital currency called Robux to buy premium features. The company said its platform has seen a boost in users this year due to the Covid-19 pandemic keeping users at home and in need of entertainment. Andreessen Horowitz said in February that the platform reached more than 115 million monthly users.

It’s the latest tech file to go public in a busy season for market debuts. It follows GoodRxSnowflakePalantir and Unity, among others. Airbnb and lending start-up Affirm also are preparing for a public debut.

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