Game Platform Roblox Files Confidentially for Public Listing

Online game platform Roblox said Monday that on a confidential basis it had submitted a draft registration statement to the Securities and Exchange Commission for a public offering of common stock.

The San Mateo, Calif., company said it hasn’t determined the number of Class A common shares it will sell and at what price.

Roblox said it intends to commence the public offering following completion of the SEC review.

The company is aiming for a public valuation of about $8 billion, Reuters reported earlier this month. 

That would double the $4 billion valuation it got in a $150 million fundraising round in February led by venture capital firm Andreessen Horowitz. The VC firm said in February that the platform reached more than 115 million monthly users.

The company hosts millions of games that are built by its users, who then get a share of any related revenue. 

“Roblox is powered

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Emails: Palantir blames Morgan Stanley for ‘blemished’ direct listing

  • In two emails sent internally this weekend, Palantir Technologies blamed Morgan Stanley for a “failure” that left some employee and alumni shareholders unable to sell their shares when the company made its public debut last Wednesday.
  • The problem stemmed from a glitch with Morgan Stanley’s trading platform Shareworks.
  • In an unsigned email sent late in the evening Sunday, Palantir said it had heard from Morgan Stanley that the bank was in a “war room” all weekend working to determine which shareholders were owed compensation. 
  • A spokesperson for Shareworks at Morgan Stanley said the issue was a “slowness” that “may have resulted in delayed logins into our system.”
  • Visit Business Insider’s homepage for more stories.

Palantir placed blame squarely on Morgan Stanley following a glitch in the bank’s trading software Shareworks on Wednesday, according two unsigned emails sent to “Palantirians” on Saturday and Sunday, which were obtained by Business Insider.

That

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How This Celebrity Realtor Is Making Diversity And Inclusion His Top Listing

As the drive increases for society to become more inclusive, and provide sustainable and equitable support for Black communities, the real estate sector has come into the spotlight for lack of racial representation.

To date, Rod Watson, founder of The Watson Group LAVIPagent team, and Director of Sports and Entertainment at Keller Williams Beverly Hills, has sold and negotiated over $120 million in real estate during his 14 year career. He says, “I’ve learned a lot of valuable information when it comes to real estate investing. My focus has been to help as many athletes and people of color as I can to generate, and maintain generational wealth through real estate investing. That is my purpose and reason for being in this business.” 

His journey began with a dream to get

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Palantir Slips on First Day After Long-Awaited Listing

(Bloomberg) — Palantir Technologies Inc. fell 5% from its opening trades in its debut as a public company, ending a 17-year tradition of secrecy surrounding the software business co-founded by Peter Thiel.

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The data analytics company’s share price fell to $9.50 after opening Wednesday at $10 on the New York Stock Exchange. Palantir listed its shares directly on the exchange, rather than raising capital through an initial public offering. As in the three other major direct listings that have taken place, the exchange had set a reference price — $7.25 for Palantir — to help guide investors and to allow shares to begin trading.

Palantir ended the day with a market capitalization of about $15.7 billion based on its listed shares, according to data compiled by Bloomberg. On a fully diluted basis based on all the shares covered in its filings, the company has a value of almost

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Palantir officially begins trading through a direct listing

  • Shares of the big data company Palantir began trading on Wednesday via a direct listing.
  • The New York Stock Exchange established a reference price of $7.25 per share, valuing the company at about $16 billion ahead of its official debut.
  • Palantir has yet to become profitable, raising questions from investors.
  • Palantir also has faced criticism from activists for its work with Immigration and Customs Enforcement, which the company has acknowledged poses a risk to its business — partially because yielding to the criticism might endanger its business with government clients.
  • Visit Business Insider’s homepage for more stories.

Palantir, the secretive and often-controversial big data company founded by Peter Thiel, made its public markets debut on Wednesday with a splash, as investors bid up shares and gave the company a roughly $19 billion market capitalization.

Shares of Palantir began trading on the New York Stock Exchange on Wednesday through a direct

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Corsair Discusses IPO, Nasdaq Listing, Growth And Gaming Market

Gaming hardware company Corsair (Nasdaq:CRSR) is now Nasdaq listed, having raised $238 million by offering 14 million shares at $17, a month after filing for an Initial Public Offering. It’s an interesting time for gamers, with the pandemic seeing increased sales as more people spend additional time at home, while gaming itself is a growth area across most platforms, including the PC.

I caught up with Corsair’s director of worldwide PR, Harry Butler to get his take on Corsair’s listed status, its view of the gaming market and plans for growth.

Antony: Corsair was looking to go public a while ago – what changed to get over the finishing line this time?

Harry: Several things and firstly it was the involvement of venture capitalists a few years ago through our partners at EagleTree who saw the potential

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Real estate tech company Porch adds five new directors to board ahead of public stock listing

Seattle-based Porch today named five directors that will join the company’s board when it goes public later this year.



a large brick building with a clock: Porch’s Seattle headquarters. (Porch Photo)


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Porch’s Seattle headquarters. (Porch Photo)

The real estate technology venture and home improvement marketplace announced plans in July to become publicly traded through a merger that values the Seattle company at $523 million. Porch will combine with PropTech Acquisition Corp., a special purpose acquisition company, or SPAC.

The board members will join on Porch’s first day of public trading. They include:

  • Javier Saade, founder and managing partner of Impact Master Holdings; venture partner at Fenway Summer Ventures; former associate administrator of the U.S. Small Business Administration.
  • Chris Terrill, former CEO of HomeAdvisor and Angie’s List; board member of Realogy Holdings Corp. and Infogroup.
  • Regi Vengalil, CFO of Egencia (Expedia’s corporate travel division); former global head of corporate development and strategy at Expedia Group. He will serve as
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Paytm executive says India’s secondary listing plan would be undue burden

By Sankalp Phartiyal and Nupur Anand

NEW DELHI (Reuters) – India’s potential plan to compel companies to do a secondary listing on an Indian stock exchange if they opt to first list on an overseas bourse would unfairly penalise Indian firms, according to a senior executive at fin-tech company Paytm.

“Companies should be allowed to list wherever they want. I think that would be good not just for the companies, but for the digital ecosystem,” Madhur Deora, a president of SoftBank-backed <9984.T> Paytm, told Reuters in an interview on Tuesday.

Deora’s comments come as India works on forging rules that would open the doors for Indian startups to list overseas and access deeper capital pools.

Earlier this month however, Reuters reported that New Delhi is also considering mandating an Indian secondary listing for any Indian company that opts to first list abroad, a move investors fear will harm valuations.

“I

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Palantir listing may shine light on secretive Big Data firm

Perhaps the most secretive firm to emerge from Silicon Valley, Palantir Technologies is set for a stock market debut this month that may shed light on the Big Data firm specializing in law enforcement and national security.

Created after the September 11, 2001 terror attacks with initial funding from a CIA venture-capital unit, Palantir and its predictive analytics platform reportedly have helped the US military locate Osama bin Laden and track weapons movements in the Middle East.

Its platform has also been used in the controversial practice of “predictive policing” to help law enforcement, detect medical insurance fraud and fight the coronavirus pandemic.

While Palantir’s data practices and algorithms are secret, the company claims it follows a roadmap which is, if anything, more ethical than its tech sector rivals.

It moved its headquarters to Denver this year, partly in an effort to set itself apart from its Silicon Valley rivals.

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