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Roblox Corporation has filed its registration documents

Royale High Diamonds Roblox Corporation has filed its S-1 registration documents with the US Securities and Exchange Commission ahead of its prospective initial public offering (IPO) on the New York Stock Exchange under the ticker RBLX.

Roblox's plans to go public come at a time when demand for video games and at-home entertainment has surged in the U.S. as consumers continue living under lockdown due to the COVID-19 pandemic. Streaming service provider fuboTV Inc FUBO.N which went public last week jumped 10% in its market debut.

U.S. consumer spending on video gaming hit a record $11.6 billion in the second quarter up 30% from the year-ago period according to research firm NPD Group.

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Roblox has been expanding its focus to become a social platform where users can come not just for gameplay but also to attend virtual birthday parties and concerts with friends. Amid school lockdowns Roblox also has been increasingly used to teach everything from coding to physics.

Even so the company lost money. Its net loss totaled $203 million in the first nine months of 2020 more than four times the $46 million it lost in the same period a year ago. Roblox also warned that it was unlikely to experience the same growth when the pandemic subsides warning that the surge was Royale High Money“almost certainly not indicative of our financial and operating results in future periods.”

The listing by Roblox will push IPOs even further past previous records. So far this year an all-time high of more than $144 billion has been raised on U.S. exchanges according to data compiled by Bloomberg. Airbnb DoorDash and Affirm filed this month to go public and are expected to add billions of dollars to that total.

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