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Roblox levels-up valuation at USD 29.5bINTL

Roblox levels-up valuation at USD 29.5b

Roblox, the online gaming company, has raised USD 520m in a private financing round at a valuation of USD 29.5b.

The financing round was led by Altimeter Capital and Dragoneer Investment Group, and represented a seven-fold increase to Roblox’s last funding round in February 2020. The company is expected to raise additional funds of USD 30m.

Roblox filed to go public last year but delayed its plans after shares of DoorDash and Airbnb soared beyond estimates, prompting concerns the love-affair with tech IPOs may be coming to an end. 

why it matters
This new funding round comes on the heels of the new rule introduced by the SEC, allowing companies to simultaneously raise capital as they go public. Direct listings have turned the tide for technology companies as more and more opt for this approach.