Tech I.P.O.s Take a Breather

Tech I.P.O.s Take a Breather

DealBook Business and PolicyDealBook NewsletterTech I.P.O.s Take a BreatherRoblox delayed its debut as Wall Street worries about a bubble.By Andrew Ross Sorkin, Jason Karaian, Michael J. de la Merced, Lauren Hirsch and Ephrat LivniImageImageBig I.P.O. pops prompted David Baszucki, Roblox's C.E.O., to delay his company's debut.Credit...RobloxA pause in the I.P.O. frenzyThe eye-popping stock market debuts of Airbnb and DoorDash last week have led to the delay of at least one eagerly awaited I.P.O., as executives are taken aback by the strength of the tech stock craze.The gaming company Roblox has pushed back its stock offering until next year, The Times's Kellen Browning writes. Roblox's chief, David Baszucki, wrote to employees that waiting would provide “an opportunity to improve our specific process for employees, shareholders and future investors both big and small.”Roblox is worried about leaving money on the table, sources told DealBook. Selling shareholders — including employees — might be shortchanged if its I.P.O. has as big a pop as Airbnb (113 percent) or DoorDash (86 percent).Affirm, the e-commerce lender, also postponed its I.P.O., though a person with knowledge of the matter told DealBook it was in large part because of delays with the S.E.C. regulatory process.Wall Street is increasingly muttering