Roblox files confidentially to become public

Roblox online gaming service.Lionel Bonaventure | AFP | Getty Images

Gaming company Roblox said on Monday that it had confidentially filed with the Securities and Exchange Commission for an IPO.The company did not disclose its financial information and the number of shares that would be offered. Roblox was recently privately valued at $ 4 billion in late February, after venture capital firm Andreessen Horowitz led a $ 150 million Series G funding round.

Reuters, which first announced the company’s plans to the stock exchange, said Roblox expects a listing to double its valuation. A Roblox spokesperson declined to comment.

Founded in 2004, Roblox offers users free games on mobile devices and consoles. Players can purchase digital currency called Robux to purchase premium features. The company said its platform has seen an increase in user numbers this year due to the Covid-19 pandemic keeping users at home and in need of entertainment. Andreessen Horowitz said in February that the platform reaches more than 115 million monthly users.

This is the last tech roster to be released in a busy season for the market debut. It tracks GoodRx, Snowflake, Palantir, and Unity, among others. Airbnb and loan start-up Affirm are also gearing up to make their public debut.

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