This year continues to get hot with private companies going public via IPOs, direct listings and SPACs. What a great time to be alive. This time, Roblox, a popular game for kids is planning on going public.
The company has previously submitted a draft registration statement on a confidential basis to the U.S. Securities and Exchange Commission for a proposed public offering of its common stock. The number of shares of Class A common stock to be sold and the price range for the proposed offering have not yet been determined. Roblox intends to commence the public offering following completion of the SEC review process, subject to market and other conditions.
Roblox announced in July that it had more than 150 million monthly active users on its platform, which topped the latest numbers from a similar game, “Minecraft.” Microsoft’s Xbox division announced in May that 126 million people were playing that title each month.
Roblox also offers tools for developers and said in July that its developer community was on pace to earn $250 million in 2020, up from $110 million in 2019.
Games on the Roblox platform include “Adopt Me!,” a virtual-pet title that had over 10 billion plays as of late July, and “Piggy,” which launched in January and had nearly 5 billion visits in just over six months from its launch date.