Roblox Corp has postponed plans to go public because of the U.S. Securities and Exchange Commission’s scrutiny of how the video game platform recognizes revenue in its finances, according to a memo the company sent to employees on Thursday.
The delay is a setback for one of the most eagerly-anticipated U.S. public market debuts of 2021. The company had said in a regulatory filing earlier this month that it was aiming to list shares on the New York Stock Exchange in February.
