San Mateo’s Gaming platform Roblox Corp. confidentially files for US public listing

by   |  VIEW 1755

San Mateo’s Gaming platform Roblox Corp. confidentially files for US public listing

Roblox Corp., the San Mateo, California-based 14-year-old American gaming platform, had issued a statement on Monday saying that the gaming platform provider had confidentially submitted its paperwork to the US SEC (Securities and Exchange Commission) for public trading.

Nonetheless, Roblox Corp. filing could not reveal whether the company would take a traditional route to go public since a direct listing would bar the California-headquartered gaming platform to issue new shares. In point of fact, Roblox Corp.’s latest filing with the US SEC for a US public listing followed a media headline earlier this month that had been quoted saying the San Mateo-based gaming platform had been looking to a public listing by early-2021, a crucial move in the new-normal pandemic era that could witness the company’s market cap having been doubled from its recent valuation of $4 billion.

Roblox Corp. to go public as video games demand surge

Notably, latest application from the American gaming platform Roblox Corporation came against the backdrop of a new-normal pandemic era that had been forcing a majority of Americans to stay at home amid a likely second wave of the pandemic outbreak, while demands for video games alongside the in-house entertainments such as Netflix and other streaming services continued to surge as a number of US consumers had been living under lockdowns due to the forced business closure measures in several US states as beforementioned.

More importantly, a streaming service start-up fuboTV Inc.

shares’ prices had soared as much as 10 per cent at its NYSE debut later last week, while a Roblox Corp. US listing would likely to stem a similar outcome, suggested Wall St. analysts. Apart from that, US investors’ optimism for new stocks amid a sunken IPO market this year had been fleshing up market caps of newer stocks over the recent months, while a Roblox Corp.

IPO would more likely to yield an expected upshot in market caps as US Consumer Spending on video gaming had hit a record $11.6 billion over the second quarter of the year, up about 30 per cent compared to the same time a year earlier, data from a research firm NPD Group had unveiled.