Read more: Roblox to Delay IPO as Affirm Is Said to Weigh Its Timing “As such, we’ve decided to take this opportunity to work with our advisers to see how we can make such improvements,” Chief Executive Officer David Baszucki said in an email to employees last year. The postponement came after staggering first-day gains in listings by Doordash Inc. In December, Roblox told its employees that it was delaying its IPO until 2021 to try to improve the process. on the IPO, planning to list its shares on the New York Stock Exchange under the symbol RBLX. Roblox had been working with Goldman Sachs Group Inc., Morgan Stanley and JPMorgan Chase & Co. Neither raised any new capital in the listing. and music streaming service Spotify Technology SA. Only a handful of companies have done direct listings, including Peter Thiel’s Palantir Technologies Inc. Securities and Exchange Commission has approved a New York Stock Exchange proposal to allow companies to raise capital in a hybrid type of direct listing, no company has tested that model yet. The funding will allow Roblox to go public without having to raise capital in an IPO. The round was led by Altimeter Capital and Dragoneer Investment Group. Roblox also said that it raised $520 million through a series H private placement that valued it at $29.5 billion, according to a separate statement. The online gaming company announced the switch on Wednesday, confirming an earlier Bloomberg report. intends to go public through a direct listing instead of an initial public offering as it earlier planned.
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