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Wish, the world's most-downloaded shopping app, has filed to go public after reporting $1.75 billion in revenue in the first 9 months of the year

Wish.com Wish, an online marketplace known for selling cheap Chinese goods, filed to go public on Friday. Wish is seeking a valuation of between $25 billion and $30 billion on the public market, according to two people familiar with the matter, per the Financial Times. The e-commerce startup, founded in 2010, joins a host of other tech companies filing for a public listing, including Airbnb, DoorDash, and Roblox. The company reported $1.75 billion in revenue for the first nine months of t...
Tags: Google, Asia, China, US, San Francisco, Trends, Securities And Exchange Commission, Peter Szulczewski, Roblox, Airbnb DoorDash, Kate Duffy


The promise and challenge of Roblox’s future in China

In a much-anticipated move, California-based gaming firm Roblox filed to go public last week. One aspect driving the future growth of the children- and community-focused gaming platform is its China entry, which it fleshes out in detail for the first time in its IPO prospectus. Like all gaming companies entering China, Roblox must work with a local publishing and operations partner. And like Riot Games, Supercell, Epic Games, Activision Blizzard, Ubisoft, Nintendo and many more, Roblox chose ...
Tags: TC, Gaming, Asia, Games, California, China, Tech, Beijing, Tencent, Reddit, Treasury Department, Committee on Foreign Investment, CFIUS, U S China, Roblox, Ubisoft Nintendo


How the pandemic drove the IPO wave we see today

This is The TechCrunch Exchange, a newsletter that goes out on Saturdays, based on the column of the same name. You can sign up for the email here. I had a neat look into the world of mental health startup fundraising planned for this week, but after being slow-motion carpet-bombed by S-1s, that is now shoved off to Monday and we have to pause and talk about COVID-19. The pandemic has been the most animating force for startups and venture capital in 2020, discounting the slow movement of glob...
Tags: Google, Fundings & Exits, Startups, Ipo, Virginia, United States, Bird, Airbnb, Exchange, Sapphire Ventures, Byron Deeter, Doordash, Bessemer, Klarna, SPAC, Peloton


Affirm, Airbnb, C3.ai, Roblox, Wish file for tech IPO finale of 2020

Editor’s note: Get this free weekly recap of TechCrunch news that any startup can use by email every Saturday morning (7 a.m. PT). Subscribe here. The wait was long but this week the time was right: Airbnb finally filed its S-1 and so did Affirm, C3.ai, Roblox, and Wish. We are likely to see these five price on public markets before the end of an already superlative year for tech IPOs. The ongoing pandemic and political turmoil were not scary enough, apparently. This coming decade, you have to t...
Tags: Apple, Startups, TC, Utah, New York, Obama, White House, Ipo, US, America, San Francisco, Tech, Joe Biden, Italy, Tencent, SEC


This Week in Apps: Apple slashes commissions, Twitter launches Fleets, warnings about Parler

Welcome back to This Week in Apps, the TechCrunch series that recaps the latest OS news, the applications they support and the money that flows through it all. The app industry is as hot as ever, with   204 billion downloads and $120 billion in consumer spending in 2019. People are now spending three hours and 40 minutes per day using apps, rivaling TV. Apps aren’t just a way to pass idle hours — they’re a big business. In 2019, mobile-first companies had a   $544 billion valuation, 6.5x higher ...
Tags: Apple, Google, Amazon, TC, Facebook, Apps, Twitter, Japan, Instagram, Supreme Court, Australia, Washington Post, Youtube, Ipo, Tech, Eu


All IPOs should be paid for in Robux

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast (now on Twitter!), where we unpack the numbers behind the headlines. This is an all-time first for the show, it’s an Equity Leftovers. Which means that we’re not focusing on a single topic like we would in an Equity Shot. This is just, well, more Equity. Danny and I and Chris got together to chat about a few things that we could not leave out: Our piece looking at which venture capital firms are expected to make t...
Tags: Apple, Fundings & Exits, Startups, Tech, Robinhood, Wish, Chris, Doordash, Danny, Roblox, Robux, Equity podcast


Daily Crunch: Roblox is going public

Roblox opens its books, Snap makes an acquisition and Pfizer and BioNTech seek regulatory approval for their vaccine. This your Daily Crunch for November 20, 2020. The big story: Roblox is going public The child-friendly gaming company filed confidentially to go public in October, but it only published its S-1 document with financial information late yesterday. How do the numbers look? Well, Roblox is certainly growing quickly — total revenue increased 56% in 2019, and then another 68% in t...
Tags: Gaming, Europe, Finance, Tech, Pakistan, Pfizer, Hutchinson, Don, Danny Crichton, Orix, Roblox, Vonne Hutchinson, BioNtech, ReadySet, Daily Crunch, Carlos Gonzalez Cadenas


Extra Crunch roundup: A fistful of IPOs, Affirm’s Peloton problem, Zoom Apps and more

DoorDash, Affirm, Roblox, Airbnb, C3.ai and Wish all filed to go public in recent days, which means some venture capitalists are having the best week of their lives. Tech companies that go public capture our imagination because they are literal happy endings. An Initial Public Offering is the promised land for startup pilgrims who may wander the desert for years seeking product-market fit. After all, the “I” in “ISO” stands for “incentive.” A flurry of new S-1s in a single week forced me to r...
Tags: Fundings & Exits, Startups, TC, Gaming, Entrepreneurship, China, Ipo, India, San Francisco, Tech, ISO, NewCo, Alibaba, Venture Capital, Airbnb, Autodesk


A16z is now managing $16.5 billion, after announcing two new funds

Andreessen Horowitz (a16z) has closed a pair of funds totaling $4.5 billion, the firm confirmed in a blog post this morning. The firm has raised $1.3 billion for an early-stage fund focused on consumer, enterprise, and fintech; and closed a $3.2 billion growth-stage fund for later-stage investments. The firm did not immediately respond to request for comment. The funds may seem somewhat typical, given the size of new funds that venture firms have been raising in recent years, Still, these are e...
Tags: Fundings & Exits, TC, Microsoft, Ipo, San Francisco, Tech, Venture Capital, Fund, Airbnb, Andreessen Horowitz, New York Stock Exchange, Github, Justice Department, Affirm, Early Stage, Anthony Albanese


If you didn’t make $1B this week, you are not doing VC right

The only thing more rare than a unicorn is an exited unicorn. At TechCrunch, we cover a lot of startup financings, but we rarely get the opportunity to cover exits. This week was an exception though, as it was exitpalooza as Affirm, Roblox, Airbnb, and Wish all filed to go public. With DoorDash’s IPO filing last week, this is upwards of $100 billion in potential float heading to the public markets as we make our way to the end of a tumultuous 2020. All those exits raise a simple question – who m...
Tags: Ipo, Singapore, Tech, SEC, Airbnb, Max Levchin, Cto, GIC, Levchin, Tony Xu, Sheng, Joe Gebbia, Peter Szulczewski, Szulczewski, Roblox, Evan Moore


What is Roblox worth?

With Roblox joining the end-of-year unicorn stampede towards the public markets, we’re set for a contentedly busy second half of November and early December. I hope you didn’t have vacation planned in the next few weeks. This morning we need to get deeper into the Roblox S-1 so that we can better understand the nature of its revenue generation. Why? Because we want to start working on what the gaming company is worth; some comparisons are being made to Unity, another unicorn that went public ear...
Tags: Fundings & Exits, Startups, TC, Gaming, Tech, Crunchbase, Unity, Natasha, Roblox, The Exchange, Robux


Wish files to go public with 100M monthly actives, $1.75B in 2020 revenue thus far

This morning Wish, a well-known mobile ecommerce startup, filed to go public. It joins Affirm, Airbnb, and Roblox in filing this week as many well-known and valuable private companies look to debut before the year ends and the holidays start. Wish’s S-1 (which is filed under its corporate name ContextLogic) is of particular interest given that COVID-19 and the global pandemic have changed consumer behavior around the world in 2020. As going to stores became more risky over time, many shoppers...
Tags: Fundings & Exits, Startups, TC, Apps, Tech, Paypal, DST Global, Wish, EBITDA, Shopify Bigcommerce, Roblox, COVID, Peter Szulczewski Wish


10 things in tech you need to know today

REUTERS/Dado Ruvic/Illustration Good morning! This is the tech news you need to know this Friday. Sign up here to get this email in your inbox every morning.Have an Amazon Alexa device? Listen to this update by searching "Business Insider" in your flash briefing settings.And for the biggest stories in politics, sign up here for 10 Things in Politics You Need to Know Today — launching soon!Roblox is going public. The gaming platform has skyrocketed in popularity since the start of the COVID...
Tags: Apple, Google, Facebook, UK, Softbank, Trends, Canada, Fidelity, App Store, Costco, American Airlines, Nordic, Masayoshi Son, Facebook Google, RCS, Amazon Alexa


Roblox files to go public amid surge in videogame spending

The 16-year-old company is planning an IPO at a time when demand for at-home entertainment has swelled due to the pandemic
Tags: Finance, Article, The Wall Street Journal, FBN, Fbn/markets, Roblox, Fox-business/markets/ipos, 43c7f5fc-8b0a-5b09-8acf-6871b9783101, Sarah E. Needleman


Massive tween gaming platform Roblox files for IPO

Popular tween gaming platform Roblox filed to go public on Thursday. The company declined an interview, citing a quiet period.
Tags: Cnn, Roblox


Roblox files to go public

Roblox, the child-friendly gaming company, filed to go public today. Its listing comes one day after the lending company Affirm initiated its own public offering and a mere two days after Airbnb’s filing. Roblox filed confidentially to go public in mid-October, but its numbers were unreleased until today when it published its S-1 document. The company is not the first gaming platform company to go public this year, with gaming engine Unity debuting earlier this year. After its IPO, Unity ...
Tags: Fundings & Exits, Startups, Apps, Tech, SEC, Airbnb, Andreessen Horowitz, New York Stock Exchange, Tiger Global, Initial Public Offering, First Round Capital, Exit, Index Ventures, Unity, GAAP, ALTOS


Massive tween game Roblox files for IPO

Popular tween gaming platform Roblox filed to go public on Thursday. The company declined an interview, citing a quiet period.
Tags: Cnn, Roblox


DoorDash just publicly filed its IPO paperwork, revealing a nearly $150 million loss this year amid the COVID-19 delivery boom

DoorDash CEO Tony Xu. Kimberly White/Getty Images for TechCrunch DoorDash on Friday released its filing to go public. The delivery company said in the filing that in the first nine months of this year it generated a $149 million loss on revenue of $1.9 billion, compared with a $667 million loss on $587 million in revenue the year before. "Helping brick-and-mortar businesses compete, succeed, and flourish in these rapidly changing times is the core problem we are trying to solve," CEO Tony ...
Tags: California, US, San Francisco, Trends, Bloomberg, Goldman Sachs, Palantir, Cnbc, Securities And Exchange Commission, Doordash, Jpmorgan, UBS Investment Bank, William Blair, Tony Xu, Xu, Roblox


DoorDash just publicly filed its paperwork to go public, revealing a nearly $150 million loss this year amid the COVID delivery boom

Kimberly White/Getty Images for TechCrunch DoorDash released its filing to go public on Friday morning.  The delivery company said in the filing that, in the first nine months of 2020, it generated a $149 million loss on revenue of $1.9 billion, compared to a $667 million loss on $587 million in revenue the year before.  "Helping brick-and-mortar businesses compete, succeed, and flourish in these rapidly changing times is the core problem we are trying to solve," CEO Tony Xu wrote in a le...
Tags: California, Ipo, US, San Francisco, Trends, Bloomberg, Jp Morgan, Goldman Sachs, Palantir, Cnbc, Securities And Exchange Commission, Doordash, UBS Investment Bank, William Blair, Tony Xu, Xu


Lil Nas X – “Holiday”

Lil Nas X trades in his spurs for sleigh bells on new single “Holiday,” the “Old Town Road” rapper’s first new music since last year’s 7 EP. And the accompanying music video, which he teased over the weekend, has him fully becoming Santa Nas X while Michael J. Fox stops by for a quick cameo. Watch and listen below. This weekend, Lil Nas X will perform “Holiday” live for the first time in the first-ever concert on the game creation platform Roblox. “We’re throwing the biggest virtual concert...
Tags: Music, Michael J Fox, New Music, Old Town Road, Roblox, Lil Nas X, Lil Nas, Santa Nas


Roblox gamers must pay to die with an 'oof'

It follows a copyright dispute with sound engineer who originally created the sound for another game.
Tags: News, Roblox


Roblox to host its first virtual concert, featuring Lil Nas X

Roblox this morning announced a partnership with Columbia Records that will allow it to bring a virtual concert experience featuring Lil Nas X to its gaming platform. Notably, this will be Roblox’s first-ever virtual concert, and follows similar events that have been held during the pandemic, like the “One World: Together At Home” concert to benefit WHO in April, and Fortnite’s Travis Scott concert hosted in-game, which attracted 12.3 million concurrent players at its peak. The Lil Nas con...
Tags: Gaming, Asia, Tech, Nas, United States, PBR, Musicians, Player, Online Games, Columbia Records, Travis Scott, Sensor Tower, Roblox, Jon Vlassopulos, Metaverse, Lil Nas X


How Roblox became the 'it' game for tweens -- and a massive business

Video games are having a moment during the pandemic, perhaps none more so than an oddball create-your-own game sandbox called Roblox.
Tags: Cnn, Roblox


The No-Code Generation is arriving

In the distant past, there was a proverbial “digital divide” that bifurcated workers into those who knew how to use computers and those who didn’t.[1] Young Gen Xers and their later millennial companions grew up with Power Macs and Wintel boxes, and that experience made them native users on how to make these technologies do productive work. Older generations were going to be wiped out by younger workers who were more adaptable to the needs of the modern digital economy, upending our routine noti...
Tags: Enterprise, Education, Developer, America, Tech, Minecraft, Lua, College Board, LTV, Shogun, Roblox, No Code, Airtable, Retool, Young Gen Xers, Power Macs


Teach Your Kids Online Safety With Roblox

Our kids will be navigating the internet long before their frontal lobes are fully developed, which means they need lots and lots of practice figuring out what’s real, what’s not, what’s a scam, and what’s legit. Roblox, as part of its dedication to fostering online safety, has launched a free “digital civility”…Read more...
Tags: Gaming, Social Media, Internet Safety, Lifehacks, Online Safety, Roblox


VCs reload ahead of the election as unicorns power ahead

This is The TechCrunch Exchange, a newsletter that goes out on Saturdays, based on the column of the same name. You can sign up for the email here. It was an active week in the technology world broadly, with big news from Facebook and Twitter and Apple. But past the headline-grabbing noise, there was a steady drumbeat of bullish news for unicorns, or private companies worth $1 billion or more. A bullish week for unicorns The Exchange spent a good chunk of the week looking into different storie...
Tags: Google, Fundings & Exits, Startups, Facebook, India, Tech, Eu, New Orleans, Khosla, Databricks, Bain Capital Ventures, Accel, Exchange, Calm, SPAC, Russell


Citigroup reports 3rd-quarter earnings that beat profit and revenue estimates amid trading surge

People walk past a Citibank branch of Citigroup in New York. Profit plummeted at the bank because of COVID-19 pandemic. Ron Adar/SOPA Images/LightRocket/Getty Images Citigroup on Tuesday reported second-quarter earnings that beat analyst estimates for revenue and profit.The bank's trading desks failed to offset its struggling consumer banking arm, but performed well enough to surprise Wall Street to the upside.Citi shares gained as much as 2% in early Tuesday trading.Watch Citigroup trade l...
Tags: New York, Congress, US, Trends, Bank Of America, Citigroup, Goldman Sachs, Citibank, Morgan Stanley, Citi, Jpmorgan, Ron, Needham, Michael Corbat, Roblox, COVID


Dow gains 251 points as tech giants rally and stimulus hopes persist

Andrew Burton/Getty Images US stocks rose on Monday as Democrats and Republicans inched closer to a stimulus compromise.Mega-cap companies including Apple and Amazon led indexes higher as investors rushed to the growth favorites.President Trump urged Republicans to speed up Amy Coney Barrett's confirmation to the Supreme Court so that they can pass a new stimulus bill before Election Day.Investors also prepared for earnings season. Citigroup and JPMorgan are set to kick off reporting on Tu...
Tags: Apple, Amazon, Supreme Court, Microsoft, Senate, White House, US, Trends, Markets, Bank Of America, House, Citigroup, Treasury, Deutsche Bank, Bank, Oil Price


Popular video game platform Roblox announces public offering that could value the company at $8 billion

Roblox CEO David Baszucki introduces one of the new Roblox games. Roblox Video game platform Roblox filed confidentially for a public offering, according to a Monday press release.The number of shares to be sold and their price range has not yet been decided.The offering could peg Roblox's valuation as high as $8 billion, Reuters reported earlier this month. That would double the $4 billion valuation it received in a February funding round.Roblox hadn't yet determined whether it wants to go...
Tags: Trends, Securities And Exchange Commission, Reuters, Needham, Mohamed El Erian, Roblox, David Baszucki, Ben Winck, Roblox Video