Roblox's value grows 700% to staggering $29.5 billion

Roblox Corp. amassed another half a billion in funding, pushing its total valuation to nearly $30 billion, up 7x from last year.

@DeekeTweak
Published Thu, Jan 7 2021 6:46 PM CST   |   Updated Thu, Feb 4 2021 5:31 AM CST

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's value grows 700% to staggering $29.5 billion 36 | TweakTown.com

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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NEWS SOURCE:corp.roblox.com

Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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