Published , by Josh Hawkins
Published , by Josh Hawkins
UPDATED March 10, 2021 - 10:40 p.m. PT: Roblox (RBLX) is on the market and now publicly trading, as seen on Google Finance.
Roblox was originally set to go public back in 2020, but those plans changed. Now, the Roblox direct listing is set to go live and we’ve got all the details you need to know right here.
Originally announced in February, Roblox will go public on Wednesday, March 10, 2021. The company will being trading under the RBLX ticker.
While the delay has inevitably left some saddened, Nasdaq says it was the smartest move for Roblox. After postponing in 2020, the company was able to raise upwards of $520 milllion through private investors. This helped push Roblox up to a valuation of $29.5 billion, which Nasdaq says was a sevenfold increase from last year. Furthermore, Roblox then decided to change from an IPO to a direct listing, which could save it money in the long run.
Not sure what the difference between an IPO and a direct listing are? Check out this helpful resource from Investopedia.
It is unclear exactly what time Roblox will go live via its listing tomorrow, though users will want to keep an eye on the market throughout the day. New listings have been known to appear at all hours of the day, so being vigilant will ensure you stay on top of the release.
We will, of course, continue to keep our eyes peeled for any additional information about the Roblox market launch, so be sure to check back with Shacknews throughout the day.