Shares of Roblox jumped as much as 16% in a long-awaited public trading debut that left the online gaming company with a $44 billion valuation.

Executives at gaming giant Roblox pushed the company's planned IPO back to 2021, as they reportedly sought a higher initial listing price.

The offering could raise 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.