David Baszucki, Founder and CEO, Roblox Corporation.  Photo credit: Steve Jennings/Getty Images for TechCrunch, licensed under Creative Commons

Roblox, the gaming platform, is working with investment banks to prepare for an initial public offering (IPO) in the US that could come as early as next year and is targeted to double the company’s current private valuation of $4 billion, as first reported by Reuters. According to Reuters, Roblox is weighing whether to hit the public markets through a traditional IPO or a direct listing. 

As a private gaming company, Roblox has been one of the most capitalized, with over $300 million raised since its founding in 2004. The company’s most recent round was a $150 million Series G that valued it at $4 billion in February of this year. Roblox has a host of big-name investors, including the likes of Tencent, Tiger Global, Temasek, First Round Capital, and Andreessen Horowitz.

As of July this year, Roblox reported having over 150 million monthly active users. Roblox is a gaming platform that allows users to play games or program their own games for others to play. Programmers on Roblox can monetize their games and make money, this year on pace to earn over $250 million on Roblox as reported by the company. Roblox currently has over 300,000 developers who create games on its platform.

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