Roblox that preparing to go public last year, shared a new statement on Wednesday. The famous online gaming company announced that it has raised $520 million in a private financing round and will soon go public through a direct listing.
According to the statements, the company recently completed a new Series H fundraising round worth around $520 million led by Altimeter Capital and Dragoneer Investment Group.
Thanks to this influx of funding, the company’s valuation has increased to approximately $29.5 billion.
Roblox had also filed to go public late last year. However, the valuation of the company, which received an investment of 150 million dollars in February, was 4 million dollars. Stating that it was aiming to get a higher public offering price, the company delayed its its debut to 2021.
As a result, Roblox, which reached its target in a short time, managed to increase its valuation from $4 billion to $29.5 billion.
Roblox will allow existing shareholders and employees to sell shares to new investors on day one.
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