Gaming titan Roblox Corp. has completed a new $520 million funding round valuing the company at nearly $30 billion--more than Grand Theft Auto parent company Take-Two Interactive.
Roblox is a juggernaut that has grown significantly in just one year's time. Following a successful half-billion funding round, Roblox Corp. is now worth an estimated $29.5 billion. This represents an astronomical 700% raise in market value in just 11 months. The funding round issued 11,556 shares at $45 a piece, and major new investors Dragoneer Investment Group and Altimeter Capital join established investors like Warner Music Group.
The game regularly makes billions every year from in-game monetization, and pulled in over $1 billion on mobile in 2020. Exact 2020 revenues are unknown as Roblox Corp. is a private company that doesn't publish results. That will change soon when the company goes public with a direct stock listing.
Games like Roblox have helped drive total-year 2020 microtransaction earnings to over $96 billion.
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