Roblox online gaming service.
Lionel Bonaventure AFP | Getty Images
The gambling company Roblox announced on Monday that it has submitted confidentiality to the Securities and Exchange Commission in order to make it public.
The company did not disclose its financial information and how many shares will be offered. Roblox was most recently valued at $ 4 billion in private ownership in late February after venture capital firm Andreessen Horowitz held a $ 1
Reuters, which first announced the company’s plans to go public, said Roblox expects the list to double its rating. A Roblox spokesman declined to comment.
Founded in 2004, Roblox offers users free games on mobile devices and consoles. Gamers can purchase a digital currency called Robux to purchase premium features. The company said that this year its platform has increased the number of users due to the Covid-19 pandemic, which keeps consumers at home and in need of entertainment. Andresen Horowitz said in February that the platform reaches more than 115 million users a month.
This is the latest technology file that goes public in the busy season for market debuts. GoodRx, Snowflake, Palantir and Unity follow, among others. Airbnb and start-up lending company Affirm are also preparing for a public debut.
Subscribe to CNBC on YouTube.