Roblox is delaying its IPO until 2021 following huge public debuts from DoorDash and AirBnB last week.
The user-generated gaming platform filed with the SEC to go public on Nov. 19 and had expected to raise $1 billion. It will now look to raise its IPO price with a potential listing early next year.
How the DoorDash and Airbnb IPOs performed:
- DoorDash started trading on Dec. 9 with an IPO price of $102, but closed the day at $189.51 per share
- Airbnb rose from an IPO price of $68 to $144.71 per share a day later
Reports early this year suggested that Roblox could garner an $8 billion valuation when it goes public.
The virtual phenomenon, regularly played by an estimated 75% of children aged 9-12, has exploded this year.
Roblox had 31.1 million daily active users through the first three quarters of 2020, up 82% year-over-year, and generated $589 million in revenue for that period of time, up 68% year-over-year.
However, the game posted a $203 million net loss through Q3, four times the loss in the same period last year.
