December 12, 2020

(Reuters) – U.S. gaming platform Roblox Corp has decided to delay its planned IPO to next year due to SEC disclosure delays, sources familiar with the matter told Reuters on Friday.

The San Mateo, California-based company had filed to go public through an IPO on the New York Stock Exchange and was supposed to list in the coming week.

News of the IPO delay was first reported by the Wall Street Journal.

Roblox officials decided that the market debut this week of Airbnb Inc and DoorDash Inc made it too difficult to determine the right price for company’s shares, the Wall Street Journal said.

The company announced to employees in a memo late Friday that the listing would be delayed until early next year, according to the Journal.

“Based on everything we have learned to date, we feel there is an opportunity to improve our specific process for employees, shareholders and future investors both big and small,” Roblox Chief Executive David Baszucki said in the memo, seen by Wall Street Journal.

Roblox declined to comment on the news.

(Reporting by Ann Maria Shibu in Bengaluru and Krystal Hu in New York; Editing by Raju Gopalakrishnan)

Public Affairs

Sign Up for Our Newsletters

Get notified first!

You May Also Like

Newsom Recall Shows States Can Do More to Protect Constitutional Rights: Dr. Cordie Williams

It’s a ‘shot across the bow’ of politicians who would restrict civic…

Texas State Senate Passes Election Integrity Bill Targeting Mail-in Ballots

The Republican-led Texas state Senate passed a bill early on Thursday that…

Lyfeloop is Best New Social Media App

Lyfeloop has been Named Best New Social Media App while quietly gaining…

What’s in the Georgia Election Bill?

Republicans in Georgia enacted a set of election reforms last month that…