Second thoughts

14 December 2020 By Gina Chon Follow @GinaChon

First-day pops like Airbnb and DoorDash’s look like success, but have left rivals hesitant. Gaming platform Roblox and payments startup Affirm are delaying IPOs after peers left billions on the table. Firms like a share-price jump but exaggerated moves leave losers close to home.

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Gaming platform Roblox has delayed its expected initial public offering until 2021, Reuters reported on Dec. 11. Roblox Chief Executive David Baszucki said in a memo to employees that the company wants to works with its advisers to make improvements on a more “market-based relationship” with investors.

Payments startup Affirm has also delayed its IPO until next year, the Wall Street Journal reported on Dec. 12. The move comes after shares in food-delivery firm DoorDash jumped more than 80% in its market debut on Dec. 9 while home-sharing app Airbnb’s stock more than doubled on its first day of trading the following day.

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