Roblox Files to go Public Confidentially with the SEC

Gaming company Roblox announced this week that it has confidentially filed with the Securities and Exchange Commission to go public. Reuters was the first to break the news.

No information was disclosed by the company about its financial information and how many shares would be offered.

The company, which was founded in 2006, offers users free-to-play games across mobile devices and consoles. Most recently Roblox was privately valued at $4 billion in late February, after venture capital firm Andreessen Horowitz led a $150 million Series G funding round.

The company’s website states, “In 2006, Roblox was founded with a mission to power the imaginations of millions of people around the world. Together with industry-leading talent, we have embraced the hardest engineering and product challenges to bring people together through play. And we have only just begun. The Roblox platform rests on a rich technology stack that is as inspiring as our players and creators.”

According to the company, its platform has seen a boost in users this year due to the coronavirus pandemic. Andreessen Horowitz said in February that the platform reached more than 115 million monthly users.

Roblox expects that a listing could double its valuation.

In its press release, the company stated, “that it has previously submitted a draft registration statement on a confidential basis to the U.S. Securities and Exchange Commission (the “SEC”) 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.”

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.