Popular video game platform Roblox announces public offering that could value the company at …

Roblox CEO David Baszucki presents one of the new Roblox games.

  • Video game platform Roblox has confidentially filed a public offering, according to a press release on Monday.
  • The number of shares to sell and their price range have not yet been decided.
  • The offer could match Roblox’s valuation at $ 8 billion, Reuters reported earlier this month. That would double the $ 4 billion valuation he received in a February funding round.
  • Roblox had not yet determined whether it wanted to go public via a traditional IPO or direct listing, according to the report.
  • Visit the Business Insider homepage for more stories.

Popular gaming platform Roblox announced on Monday that it had confidentially filed a public offering.

The company previously submitted a proposed registration with the Securities and Exchange Commission to sell shares of its common stock, according to a press release. The number of shares to sell and their price rage has not yet been decided.

Roblox’s platform offers users several different games on gaming consoles and mobile devices. While the platform itself is free, users can spend money on in-game items.

The company announced in July that it has more than 150 million monthly active users. Roblox also expects to raise more than $ 250 million this year, up from $ 110 in 2019.

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Reuters first announced Roblox’s plans to go public on October 1. The company could aim for a valuation as high as $ 8 billion depending on market demand, according to the report. Roblox was last valued at $ 4 billion in February after raising $ 150 million in a Series G funding round.

Roblox had not decided to debut on the public market through a traditional initial public offering or direct listing as early as the report in early October.

The latter option has gained popularity in recent years. Direct listings allow companies to start trading publicly without selling new stocks and without weakening the value of the stock. Funds are not collected in such announcements.

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