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Videogame company Roblox files for IPO

Roblox Corp. has filed for an initial public offering, according to a securities filing late Thursday. The company, a popular videogame platform with young children and preteens, disclosed last month it had submitted confidential paperwork with the Securities and Exchange Commission. Roblox said in its prospectus it plans to list its shares on the New York Stock Exchange under the symbol RBLX. Underwriters include Goldman Sachs, J.P. Morgan, and Morgan Stanley. The company filed to sell $1 billion in shares. Roblox said it had “experienced rapid growth” in recent quarters as its users have been more online due to COVID-19-related shelter-in-place policies. The San Mateo, Calif., company said its daily active users rose 82% to 31.1 million in the nine months ended Sept. 30, from 17.1 million in year-ago period. Revenue grew 68% to $588.7 million in the same timespan, Roblox said. The company’s losses widened, however, to $203.2 million in the first nine months of this year from $46.3 million in the year-ago period.

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