- According to a Monday press release, video game platform Robox confidentially filed for a public offering.
- How many shares are to be sold and how much they will be valued has not been decided yet.
- Earlier this month, Reuters evaluated the paywall as a high of $ 8 billion. This would double the valuation of the $ 4 billion received in the February financing round.
- Reportedly, Roblox has yet to determine whether it wants to go public through a traditional IPO or direct listing.
- For more stories visit the Business Insider homepage.
Popular gaming platform Roblox announced on Monday that it had filed a confidential offering to the public.
The company first submitted a draft registration with the Securities and Exchange Commission to sell shares of its common stock, according to a press release. How many shares are to be sold and their price has not been fixed.
Roblox’s platform offers users many different games on gaming consoles and mobile devices. Although the platform itself is free, users can spend money on in-game items.
The company announced in July that it had more than 150 million monthly active users. At more than $ 110 in 2019 this year, Robox also expected to rake in over $ 250 million.
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Reuters first reported making Robox’s plans public on 1 October. According to the report, the company could target valuations of more than $ 8 billion based on market value. Roblox was last valued at $ 4 billion in February after raising $ 150 million in a Series G funding round.
Roblox did not decide whether to launch its public marketplace through a traditional initial public offering, or a direct listing as of early October.
The latter option has increased in popularity in recent years. Direct listings allow firms to start trading publicly without selling new shares and reducing the value of the stock. Funds are not raised in such listings.
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