After first confidentially filing for a public offering in October, the gaming company Roblox has now released a public filing with the U.S. Securities and Exchanges Commission (SEC), seeking to go public 14 years after its launch and some $336 million in funding raised over the years.

Privately, Roblox is valued at $4 billion by investors and has been reported to be targeting a higher valuation of up to $8 billion on the public markets.

Roblox’s S-1 filing shows $488.2 million in 2019 revenue and a net loss of $86 million in the same year. In the previous year, the company posted a $97.2 million loss on $312.7 million in revenue.

This very year has been good for Roblox, with its revenue soaring to $588.7 million in the nine months leading ended September, compared to roughly $350 million in the same period last year. The company’s loss also soared, however, from $46.3 million to $203.2 million in the nine months of this year leading to September.

Founded in 2004 and launched fully in 2006, Roblox is a gaming platform that lets users develop games and play games developed by others. Developers are able to earn money on Roblox and have been paid a total of $241 million over time, per Roblox’s S-1. 

Roblox reports having about 31.1 million daily active users.

Major shareholders in Roblox who are in line for significant monetary rewards from its IPO include the investment firms Tiger Global, Altos Ventures, First Round Capital, and Index Ventures. The company’s founder and CEO, David Baszucki, makes do with a 13% stake in Roblox. 

Baszucki’s unusually small can be explained by Roblox having taken much funding over the years and thus seen much share dilution.

Roblox is among a crop of technology companies that have recently filed for public offerings and are looking to debut on the public markets in the late ends of this year. That crop also includes Airbnb, DoorDash, C3.ai, and Affirm.

Update: We corrected our wording of Baszucki’s stake in Roblox to 13% rather than the previously stated 1.6%.

Photo: Roblox CEO David Baszucki by Fortune Conferences is licensed under CC BY-NC-ND 2.0

Share this...

Facebook

Pinterest

Twitter

Linkedin

Whatsapp

Email

Print