we've decided to take this opportunity to work with our advisors to see how we can make such improvements." Circulating a memo to its employees Friday, Roblox CEO David Baszucki explained that "based on everything we have learned to date. So instead, Roblox is going to put its IPO on a shelf, figure out how much it might realistically be able to charge for its shares, and return to the IPO market early next year.
If you're an investor, that probably sounds like a good thing and has you excited at the prospect of enjoying a huge Roblox IPO this month - but Roblox had a different reaction.Īfter seeing the huge difference between the prices Airbnb and DoorDash got for their shares, and the value received by the investors who owned them at the end of the day, Roblox management seems to have concluded it would leave too much money on the table if it IPO'ed at the anticipated $8 billion valuation. Airbnb shares more than doubled in price on their first day of trading, and DoorDash did nearly as well, rising 86%.
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