Roblox raises at $29.5 billion valuation, readies for direct listing – TechCrunch

Roblox Now one of the world’s most valuable private companies in the world, the social gaming platform gets a stratospheric $ 29.5 billion valuation after a monster series H arose. The company won’t be private for long, though.

Raised $ 520 million There is a significant cash flow for Roblox, led by Ultimate Capital and Dragoneer Investment Group, which previously raised just over $ 335 million according to investors. CrunchBase. Santa Barbara’s investment group, Warner Music Group and several current investors also participated in this round.

In February of 2020, the company led the $ 150 million Series G Andreessen Horowitz Which cost 4 billion dollars.

The gaming startup has initially planned an IPO in 2020, but after the first day’s pop Doordash According to a report, the company leadership AirBnB reconsidered its timeline Axios. Those major stocks say that a stock price has significant money left on the pop table for companies selling those shares, resulting in Roblox potentially looking to escape. Today, the company also Announced It plans to enter public markets through a direct listing.

Robox’s 7x valuation multiple signals have faded in the public and private markets only for tech public stocks. The evaluation also highlights how investors benefit the company from the epidemic trend that pushed more users towards online and social gaming platforms. In the 2019 prospectus, the company shared that it had 17.6 million users, with Robux now claiming to have 31 million daily active users on its platform.