Roblox, a popular videogame platform for kids, plans an IPO

Youth-focused gaming company Roblox Corp. announced Monday that it is in the process of going public…

The company disclosed in a release Monday morning that it has submitted confidential paperwork with the Securities and Exchange Commission pertaining to a potential initial public offering. Roblox hosts child-friendly games focused on digital characters resembling Lego, and has increased in popularity during the COVID-19 pandemic like many other videogames.

Roblox announced in July that it had more than 150 million monthly active users on its platform, which topped the latest numbers from a similar game, “Minecraft.” Microsoft Corp.’s MSFT, +0.80% Xbox division announced in May that 126 million people were playing that title each month.

Roblox also offers tools for developers and said in July that its developer community was on pace to earn $250 million in 2020, up from…

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