Roblox S-1 IPO filing released

Roblox CEO David Baszuki


Robox, whose online gaming software has been extremely popular with children during the epidemic, filed its IPO prospectus on Thursday, joining a growing crop of companies that are trying to go public before the end of the year.

Roblox said in the filing that revenue in the third quarter rose 91% to $ 242.2 million from a year earlier. Its net loss more than doubled to $ 48 million. Roblox’s platform has millions of games that can be played on Apple, Google and Amazon devices.

Airbnb, DoorDash and online lender Affirm have also filed to go public in the past week, taking advantage of the post-election rally in US stocks and investor demand for high-growth tech names. The companies are trying to hit the market in the period between Thanksgiving and Christmas, people familiar with their plans told CNBC last week.

Roblox was founded in 2006, but has never seen a year like 2020. Daily active users ended in September, up to 36.2 million from September. One metric company doubled “Took hours” to 8.7 billion.

Most popular with children, Roblox allows users to create an avatar that they can transfer to titles. The games are free to play, and the company sells a digital currency called Robux that can be used to buy virtual goods and enhance characters. Robox also generates revenue by allowing users to rent servers to host virtual birthday parties and other celebrations, which have been particularly popular during the epidemic.

“We have experienced rapid growth in the three months ended June 30, 2020, September 30, 2020, and for a portion of the three months ended March 31, 2020, given to our users of the COVID-19 epidemic. Part of the reasons have become more online. As a result of global COVID-19 shelter-in-place policies, “the company said in the filing.

Two months after gaming software company Unity held an IPO, Roblox’s investors fell into the hands of investors. If investors value Robel compared to Unity, the company is in store for a dizzying start.

Unity only reported revenue growth of 53% to $ 200.8 million in the third quarter and valued at $ 32 billion. Roblox is large and growing rapidly. Based on a comparable multiple to annual revenue, Roblox would exceed $ 37 billion. It is up from a $ 4 billion financing round led by Andreessen Horowitz later this year.

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