In preparation for its listing, Roblox raised a $520 million Series H funding round in January this year, which raised its value from $4 billion to $29.5 billion. However, the firm opted for a direct listing due to concerns that its stock would be under-priced in a traditional IPO. Roblox had been preparing to go public since at least October 2020. "To all those who helped us get one step closer to fulfilling our vision of the Metaverse - thank you." "We are deeply humbled by the overwhelming support for Roblox and our public offering today," said Dave Baszucki, the company's CEO, on Twitter yesterday. All of these values are well above the $45 reference price set by the New York Stock Exchange on Tuesday.Īs CNBC highlighted, the first day's closing price of $69.50 gives Roblox a market cap of more than $38 billion, and a total value of $45.3 billion. The company started trading at $64.50 a share, peaking at around $74, before closing its first day at $69.50. Roblox’s valuation rose to $29.5 billion in January, compared to just $4 billion the year prior.Roblox closed its first day as a publicly traded company with a market cap of more than $38 billion. The company’s net loss was also updated to $194.5 million from $213.3 million.Previous numbers indicated revenue was up 68% to $588.7 million.Updated numbers show revenue through September rose to $613.9 million, up 70% from a year earlier.“We have identified a material weakness in our internal control over financial reporting which resulted in our restatement of our financial statement for the years ended Decemand Decemand the nine months ended September 30, 2020,” the filing said. The changes were also applied retroactively. Now, the company says its direct listing will take place in March after the SEC scrutinized its method of recognizing revenue.īy adopting the SEC’s requests, Roblox changed how it reports “consumable” game items, differentiating them from “durable” items. Roblox then changed course in January, stating plans to go public in February through a direct listing, after raising $520 million in Series H funding. In December, the video game company announced it was pushing back its go-public date in order to raise its IPO price. Roblox is finally on its way to a direct listing after months of delays.
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