The move comes after the Airbnb and DoorDash IPOs skyrocketed on debut, reigniting arguments around better IPO pricing controls and whether companies are leaving too much "money on the table." According to a piece from Reuters, Roblox reportedly viewed the giant pops as a sign that the IPOs were under-priced, and it now hopes to fetch a higher IPO valuation.Įarlier this month, DoorDash raised $3.4 billion and saw its stock rise as much as 92% on the first day of trading, while Airbnb jumped as much as 142% in its $3.5 billion IPO. In the memo, Roblox's CEO cited the opportunity to take a more "innovative" approach to going public as more companies are experimenting with paths to going public, like dropping the greenshoe or running a hybrid auction process. The company was valued at around $4 billion earlier this year and was expected to draw strong investor demand.īut it announced to employees in a memo late Friday that the listing would be delayed until early next year. Roblox had been set to go public in late December, part of a year-end rush of companies seeking to tap the red-hot market for initial public offerings. Roblox plans to delay its IPO until 2021 in a bid in hopes of extracting more money from the process of going public, according to The Wall Street Journal. Roblox originally planned its initial public offering (IPO) in December, but the company postponed its debut in the face of triple-digit opening-day stock-price gains by companies including C3.ai.
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