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Online gaming and co-experience platform Roblox files for a $1 billion IPO

November 19, 2020
RBLX

Roblox, an online video game development and interactive co-experience platform, filed on Thursday with the SEC to raise up to $1.0 billion in an initial public offering.

The company is building a human co-experience gaming platform that enables shared experiences among millions of online users worldwide. The Roblox human co-experience platform consists of the Roblox Client, the Roblox Studio, and the Roblox Cloud, which together allow for the interactive creation and exploration of 3D digital worlds, games, and experiences. In the nine months ended September 30, 2020, the company had a community of nearly 7 million active developers and averaged 31.1 million daily active users across over 180 countries, with users participating over mobile, desktop, and console platforms. In the same period, Roblox booked a -$114 million adjusted EBITDA loss on $589 million in revenue.

The San Mateo, CA-based company was founded in 2004 and booked $727 million in revenue for the 12 months ended September 30, 2020. It plans to list on the NYSE under the symbol RBLX. Roblox filed confidentially on October 9, 2020. Goldman Sachs, Morgan Stanley, J.P. Morgan, Allen & Company, BofA Securities and RBC Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.