US-based games platform Roblox has delayed its initial public offering until 2021.
As reported by Reuters, Roblox has made the decision so that it can work with its advisors to maximise investor relations. Moreover, following the success of Airbnb and DoorDash Inc, the firm will hope to see an increased IPO pricing.
“We’ve seen companies take innovative approaches to creating a more market-based relationship between investors and companies,” said Roblox CEO David Baszucki in a memo on Friday.
“We’ve decided to take this opportunity to work with our advisers to see how we can make such improvements.”
However, the company will now go public early next year, via a listing on the New York Stock Exchange.
Rumours of the move first began to swirl in October, with the company after a valuation of $8 billion. However, Roblox officially filed for an IPO last month, as it intends to raise $1 billion through the offering.
Recently, Roblox was granted permission to enter the Chinese market via its partnership with Tencent.