In a Bit, Expect Roblox to be listed (Very Soon Actually)
Your Favorite game roblox is now one of the world’s most valuable private companies in the world after a monster Series H raise brings the social gaming platform a stratospheric some big billions of valuation. The company won’t be private for long, though. The gaming startup had initially planned an IPO in 2020, but after the major first-day pops of DoorDash and Airbnb, the company leadership reconsidered their timeline, according to a report in Axios. Those major day-one share price pops left significant money on the table for the companies selling those shares, an outcome Roblox is likely looking to avoid. Today, the company also announced that it plans to enter the public markets via a direct listing. Roblox’s 7x valuation multiple signals just how feverish public and private markets are for tech stocks. The valuation also highlights how investors foresee the company benefiting from pandemic trends which pushed more users online and toward social gaming platforms. I...