Roblox raised $520 million in a private funding round on January 6, which resulted in a purchase price of $45.00 per share.
Separately, the gaming company has announced plans to go public via a direct listing, moving away from the IPO plan announced last month.
After the private funding round, the Roblox Corporation is now valued at $29.5 billion. Led by Altimeter Capital and Dragoneer Investment Group, participation came from Santa Barabara Investment Group and Warner Music Group.
The Roblox company also plans to file for a direct listing on the stock exchange. The company had carefully watched Spotify and Slack go public via direct listings, and it looks like they’ve decided to do the same.
It looks like the wait to go public will be well worth the company’s interests, as around 190 million users were active in December 2022 alone, according to RTrack.
This marks a $70 million increase from December 2019 to December 2020. CNBC reported that “third quarter revenue jumped 91% year over year to $242.2 million.” Obviously, the children’s gaming platform shows no signs of losing popularity.
Dave Baszucki, CEO and co-founder of Roblox, recently dubbed the Metaverse, the shared virtual space that combines the internet, virtual worlds, and augmented reality.
Although he thinks the Metaverse will expand beyond video games in 2022, Baszucki echoed Roblox’s plans during the private funding round.
The newly acquired funding enables the company to double down on Roblox’s mission: to build shared experiences through the gaming platform.
“We are thrilled to welcome Altimeter, Dragoneer and the other new investors,” said David Baszucki, CEO and co-founder of Roblox. “We look forward to working with each of them as we continue our mission to create a human co-experience platform that enables shared experience, from play to work, and learning among billions of users. »
There is no set date for Roblox to go public, but it should be this year.
We will report to you when more information is announced. According to measurement company Sensor Tower, Roblox saw 159.6 million instals worldwide from the App Store and Google Play in 2022, a 43% increase over the 111.4 million instals it experienced in 2011.
In 2018, customer spending on the game’s mobile platform more than doubled from the year before, generating over $1 billion in worldwide revenue.
The most lucrative mobile game in the United States this Christmas, according to a recent research by Sensor Tower on holiday spending, was Roblox, which brought in $6.6 million in gross revenue, an increase of 40.4% over the previous year.
One of the few economic sectors that is performing well amid the pandemic is the video game business.
Even though Unity, a creator of game engines, is losing money, it collected $1.3 billion at a $13.6 billion valuation in an IPO on September 18.
Since trading started, Unity’s stock has increased by more than 60%. On December 17, Skillz, a company that transforms games into skill-based cash incentive tournaments, went public through a special public acquisition company at a valuation of $3.5 billion (SPAC).