Tag: Roblox

12
Oct
2020
Posted in technology

Game Platform Roblox Files Confidentially for Public Listing

Online game platform Roblox said Monday that on a confidential basis it had submitted a draft registration statement to the Securities and Exchange Commission for a public offering of common stock.

The San Mateo, Calif., company said it hasn’t determined the number of Class A common shares it will sell and at what price.

Roblox said it intends to commence the public offering following completion of the SEC review.

The company is aiming for a public valuation of about $8 billion, Reuters reported earlier this month. 

That would double the $4 billion valuation it got in a $150 million fundraising round in February led by venture capital firm Andreessen Horowitz. The VC firm said in February that the platform reached more than 115 million monthly users.

The company hosts millions of games that are built by its users, who then get a share of any related revenue. 

“Roblox is powered by a global community of over two million developers who produce their own immersive multiplayer experiences each month using Roblox Studio,” the company said on its website. 

“Our popularity is driven purely by the community with millions of people signing up through word of mouth every month.”

Roblox, which was founded in 2004, said that two-thirds of all U.S. kids 9 to 12 years old use the platform.

In July, Roblox said its developer community was on pace to earn more than $250 million in 2020, more than double 2019’s $110 million.

David Baszucki is the company’s founder and chief executive. Prior to Roblox, he founded Knowledge Revolution, which was acquired by MSC Software in 1998.

Last month, Andrea Wong, who was most recently the president of international at Sony Corp.,  (SNE) – Get Report joined the Roblox board. 

12
Oct
2020
Posted in software

Unity Software competitor Roblox confirms confidentially filing for IPO (NYSE:U)

Video game platform Roblox has confidentially filed for an IPO, according to a company statement to Bloomberg.

The number of shares and price for the offering weren’t revealed.

Last week, Reuters reported that Roblox would seek an $8B valuation, double the valuation during a $450M private investing round in February.

Roblox makes freemium games and operates Roblox Studio, a free game creation system that competes with recently listed Unity Software (NYSE:U).

Previously: Unity competitor Roblox considering U.S. IPO – Reuters (Oct. 01 2020)

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02
Oct
2020
Posted in technology

Gaming Giant Roblox Preparing To Go Public Early 2021, Eyes $8 Billion Valuation: Report

KEY POINTS

  • Roblox is currently valued at $4 billion
  • It raised $150 million in series G funding in February
  • Roblox has more than 100 million monthly active users 

Gaming platform Roblox is getting ready to go public on the U.S. stock market early next  year, a move which may double its current valuation of $4 billion, Reuters reported.

The gaming company is in talks with investment banks to gauge whether it should debut on the market through a conventional initial public offering (IPO) or a direct listing, the report quoted sources as saying on the condition of anonymity. The company declined to comment to Reuters.

In an IPO, shares are created, underwritten an sold to the public, while in a direct listing, outstanding shares are sold with no underwriters involved. This is a rare method, which does not dilute the ownership of existing stakeholders.

This week, software maker Asana (NYSE: ASAN)and big data firm Palantir (NYSE: PLTR) became only the third and fourth companies, respectively, to opt for a direct listing on the New York Stock Exchange.

Roblox, based in California and founded in 2004, offers games on all mobile devices and gaming consoles. Its most famous games include Jailbreak and Meepcity. The company boasts of about 100 million global active users on its platform, with user engagement hours crossing 3 billion. Founder and CEO Dabid Baszucki said in an interview, “It is all about allowing the content to take center stage.”

In February, Robox raised $150 million in Series G funding at a valuation of $4 billion, led by venture capital firm Andreessen Horowitz.

A very well-received market debut was another gaming platform, Unity Software, maker of hit games like Pokemon Go. Its shares have risen 60% since it went public on Sept. 18.

Video gaming is a lucrative

01
Oct
2020
Posted in technology

Exclusive: U.S. gaming platform Roblox prepares to go public

By Anirban Sen, Joshua Franklin and Krystal Hu

(Reuters) – Roblox Corporation is working with investment banks to prepare for a U.S. stock market listing that could come early next year and which the online gaming platform expects could double its recent $4 billion valuation, people familiar with the matter said.

U.S. demand for video games has surged as consumers seek home entertainment while living under lockdown measures to curb the spread of the novel coronavirus.

U.S. consumer spending on video gaming hit a record $11.6 billion in the second quarter, up 30% on the year-ago period, according to research firm NPD Group.

Roblox is weighing whether to go public through a traditional initial public offering or a direct listing, the sources said, cautioning that the plans are subject to market conditions.

The sources requested anonymity as the plans are private. Roblox declined to comment.

In a direct listing, no new shares are sold and underwriting banks do not weigh in on the pricing, unlike in an IPO.

By not selling new shares, companies do not dilute the ownership stakes of existing shareholders and the public listing allows current investors to sell shares easily.

Direct listings are relatively rare. Workplace software maker Asana Inc and data analytics company Palantir Technologies on Wednesday became only the third and fourth companies to go public on the New York Stock Exchange through a direct listing.

For San Mateo, California-based Roblox, which was founded in 2004, the listing would come after it raised $150 million in February at a $4 billion valuation in a Series G funding round led by venture capital firm Andreessen Horowitz.

At the time of the fundraising announcement, Roblox said it had reached more than 115 million monthly active users and more than 1.5 billion hours of monthly engagement.

Roblox’s