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Roblox S-1 IPO Filing Released

Roblox CEO David Baszucki

Roblox

Roblox, an online gaming software that is very popular with children during a pandemic, submitted its IPO prospectus on Thursday, joining the growing number of companies trying to publish it by the end of the year.

Roblox said in a filing that third-quarter revenue increased 91% from a year ago to $ 242.2 million. Its net loss more than doubled to $ 48 million. Roblox’s platform includes millions of games that can be played on Apple, Google, and Amazon devices and consoles.

Airbnb, DoorDash, and online lender Affirm also filed for release last week, taking advantage of the post-election backlash of US stocks and investor demand for high-growth tech companies. The two companies are trying to enter the market during the period from Thanksgiving to Christmas, people familiar with their plans told CNBC last week.

Roblox was founded in 2006, but never in a year like 2020. By September, the number of daily active users almost doubled to 36.2 million. The index that the company calls “working hours” has more than doubled to 8.7 billion.

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Roblox

Roblox, the most popular with kids, allows users to create avatars that can move between titles. The game is free to play and the company sells a digital currency called Robux that can be used to purchase virtual products and enhance characters. Roblox also generates revenue by allowing users to rent servers to host virtual birthday parties and other gatherings that are especially popular during pandemics.

“We have achieved rapid growth in the three months to June 30, 2020, the three months to September 30, 2020, and the three months to March 31, 2020. Partly due to the COVID-19 pandemic coming online, as a result of the global COVID-19 shelter-in-place policy, “the company said in a filing.

Roblox’s filing went into the hands of investors just two months after the game software company Unity held its IPO. If investors value Roblox compared to Unity, the company is aiming for a lofty debut.

Unity saw revenue growth of $ 208 million in the third quarter, up 53%, and was worth $ 32 billion. Roblox is bigger and growing faster. Based on multiples comparable to annual revenue, Roblox is worth more than $ 37 billion. This is an increase from the $ 4 billion funding round led by Andreessen Horowitz earlier this year.

According to Roblox, in the first three quarters of this year, 34% of revenue came from selling Robux on Apple devices and 18% from the Google Play store.

Altos Ventures is Roblox’s largest shareholder and holds a 21% stake. Co-founder and CEO David Baszucki owns 12%. Meritech Capital manages 10%, Index Ventures owns 9.9% and Tiger Global owns 7.3%.

to see: One year ahead of the IPO

Roblox S-1 IPO Filing Released

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