Roblox Delays I.P.O. Until Next Year

Roblox, a gaming company that had been preparing to go public this month, has decided to delay its initial public offering until next year, in a sign that the enthusiastic market for I.P.O.s by DoorDash and Airbnb this past week has made it difficult to price shares accurately.

The company’s co-founder and chief executive, David Baszucki, announced the decision in a memo to employees on Friday, saying that waiting provided “an opportunity to improve our specific process for employees, shareholders and future investors both big and small.”

DoorDash, the country’s largest food-delivery company, started trading Wednesday with an I.P.O. price of $102, but ended the day up 86 percent, closing at $189.51 per share. The next day, Airbnb, a home rental company, rose 113 percent on its first day of trading, from $68 to $144.71 per share.

A slew of companies have rushed to go public before the end of the year. But the head-turning results have raised concerns about a new stock market bubble and prompted questions about whether the valuations of the unprofitable start-ups were divorced from reality.

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