We have DoorDash which i have no interest. DoorDash stock almost doubled on its first day, while AirBnB just about tripled from its offering range in a day.By waiting until next year, it may be possible for Roblox executives to work with underwriters and investors to set a higher listing price, bringing in more cash for Roblox on its eventual IPO day.Lots of IPO action. Wall Street had expected the company to go public by the end of the year.But after watching last week's DoorDash and AirBnB offerings surge in first-day trading, Roblox executives decided to rethink their timeline, Reuters reported. Specifically, "improve" the amount of money it makes from its IPO.Summary List PlacementGames startup Roblox delayed its IPO until 2021, with the CEO reportedly telling staff in a Friday memo that executives were working to boost its initial listing price."We've seen companies take innovative approaches to creating a more market-based relationship between investors and companies," CEO David Baszucki said in the memo, which was shared with Reuters.Said Baszucki: "We've decided to take this opportunity to work with our advisors to see how we can make such improvements."In November, the company filed with the Securities and Exchange Commission for a future listing, saying it expected to raise about $1 billion. 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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