Roblox’s Chief Executive Officer David Baszucki notes that the listing will take place during Q1 2021. The company seeks to take an innovative approach in the IPO. According to Baszucki: Under the IPO filing, Roblox seeks to raise $1 billion through the New York Stock Exchange (NYSE). Early this year, Roblox floated the idea of a direct listing early this year. The filing came after Roblox revenue during Q3 rose by 91% from a year ago to $242.2 million. The company’s net loss more than doubled to $48 million.
Growing wave of companies going public
Roblox joins a wave of growing companies that have gone public this year. Airbnb, DoorDash, and online lender Affirm filed to go public taking advantage of a post-election rally in stocks and investor demand for tech stocks. DoorDash raised $3.4 billion, and its stock rises as much as 92% on the first day of trading. Elsewhere, Airbnb stock rose by 142% in its $3.5 billion IPO.
