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Affirm Delays Its IPO

by Bioreports

Affirm Holdings Inc. is postponing its initial public offering, according to people familiar with the matter, the second company in as many days to pull back from the red-hot IPO market.

The point-of-sale lender, which had been set to begin marketing its shares to investors this coming week ahead of a December listing, now won’t go public until January at the earliest, the people said. While the reasons aren’t entirely clear, people familiar with the matter cited the extreme first-day pops this past week in the shares of DoorDash Inc. and Airbnb Inc. and delays at the Securities and Exchange Commission amid a flood of listing requests.

The move comes just a day after The Wall Street Journal reported that videogame company Roblox Corp., which was on a similar IPO timetable, put its listing on pause until early next year.

Roblox decided to wait because of challenges arising from the first-day jumps, according to people familiar with the offering. When shares jump like Airbnb’s and DoorDash’s did, the companies miss out on billions of dollars they might have raised and instead hand it to select investors lucky enough to get IPO allocations.

Roblox’s board met Friday and determined that, given those considerations, the company and its underwriters should rethink how to price the offering, one of the people said.

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