The gaming company Roblox announced today that it had confidentially filed paperwork with the SEC to make its public debut.
In February, the company, which operates a free-to-play gaming empire with tens of million of users, was valued at $4 billion after a Series G funding round led by Andreessen Horowitz. The company has raised more than $335 million in venture capital funding, according to Crunchbase.
The company has not detailed the number of shares it plans to offer and furthermore notes in standard legalese that their timely debut is “subject to market and other conditions.” After a slow 2019 for tech IPOs the rebound of public markets in mid-pandemic 2020 has provided an awfully wide window for tech startups reaching for their debuts.
In the games space, we recently saw the debut of Unity Technologies, which makes a popular game engine that developers use to build and monetize gaming titles.
Roblox offers an interesting sell to both consumers and developers, shipping a free-to-play vision of the future which pushes developers away from graphics-intense game design toward building content that can be played on a wide variety of devices. The games company has been more successful than most in translating a first-party experience’s success into a robust developer network. Roblox’s platform has been particularly successful with young audiences.