Is Roblox an IPO?

Roblox Corp's NYSE debut sees shares jump by 54.4%, valuing firm at $45.2B

In its highly anticipated New York Stock Exchange listing on Wednesday, gaming company Roblox Corporation saw a strong start to trading as the price of its stock shot up by 54.4% from its initial offering price.

The impressive debut performance resulted in the valuation of San Mateo-based tech firm reaching $45.2 billion, making it one of the most successful public offerings (IPOs) so far this year.

Roblox Corp's listing comes just days after fellow gaming giant Tencent Holdings listed its shares on the Hong Kong Stock Exchange through a dual-structure IPO earlier in December 2020.

The company had been planning to go public since October 2020, when it began evaluating whether to pursue an initial public offering (IPO) or explore alternative listing options such as direct listings.

Roblox Corp's decision ultimately led them down the traditional route of raising funds through a regular IPO rather than opting for more unconventional methods like SPACs. The company has been successful in attracting significant investor interest ahead of its NYSE debut, with institutional investors showing keen interest in buying into Roblox shares following months of intense marketing efforts.

Roblox Corp is known primarily as the creator and operator of popular online gaming platform 'Roblox', which allows users to create their own games or play ones created by other players. With over 100 million active monthly users worldwide, including many young gamers who are increasingly turning towards digital entertainment options during these challenging times due largely in part thanks partly because it offers a safe environment for kids & tweens alike while still providing hours upon end worth of fun!

Is roblox an ipo