Update - The Roblox IPO has been postponed to at least January. They will apparently continue with the IPO in any case. Update - Roblox decided to go the private route with a $500M raise from Altimeter and Dragoneer at a $30B valuation or about $50 per share (middle of my range). Not surprising as the P&L is indeed peculiar (and attractive!). Now the SEC has forced another delay in the IPO process, as it needs to better understand the complex revenue recognition criteria Roblox has used. The company said revenue in the first nine months of 2020 rose to $613.9 million compared to $588.7 million in its previous filing, while its losses in that period were at $194.5 million, down from $213.3 million as reported before SEC has forced to update revenue recognition criteria. Update - March as the new IPO date, now a direct listing.
Just shy of the bull scenario for the stock I described. Update - Roblox is already listed and trading.
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