Online gaming system Roblox, currently home to 115 million mostly Gen Z players each month, declared now it has raised $150 million in Series G financing, led by Andreessen Horowitz’s late-stage venture fund. The business will also open a tender offer for up to $350 million of preferred and common stocks, it says.
The business has previously offered employees and stakeholders liquidity via periodic secondary offerings, since it considers in its long-term possibility. Roblox is additionally mutually positive, based on its CFO Michael Guthrie.
The funding comes in a period of significant growth for the gaming system.
Since that time, Roblox has further invested in its developer business, with the launch of new tools for developing more realistic 3D encounters and a market where creators can sell their own development assets and resources to other people, among other goods. Get Free Robux generator No Survey No Human Verification
Roblox delivers a platform for its programmers to build upon, much like the App Store. Some of the most popular games are free, rather monetizing as gamers spend on in-game things using virtual money named Robux.
Players on Roblox often do more than simply focus on finishing a goal or activity — they go online to hang out with friends in a gambling environment. Half of each week active users visit Roblox to play with friends. Additionally, half of Roblox users upgrade their avatar each month.
Recently, Roblox has also been working to take its stage farther outside the U.S. and into China. This past year, Roblox entered a strategic partnership with Tencent in a bid to bring its programming and platform curriculum to the area, including support for Chinese languages and conducting coder camps. Now, Roblox has founders and players in over 200 countries, it says.
As of this past year, Roblox was valued at $2.5 billion, with approximately half of U.S. kids ages 9 through 12 playing on its stage, according to comScore. Additionally, its user base total skews younger, with over 40 percent 13 and up.
Now, Roblox says its consumer base is spending a collective 1.5 billion hours each month on its services. As it is available across platforms, users frequently go from PC to smartphone to continue to play — a more recent trend in online gambling, and one that is also driving adoption of matches such as Fortnite, PUBG and many others.
“We’re big believers in Roblox’s long-term eyesight, and are confident in backing the group as they enter this next inflection point,” said David George, General Partner in Andreessen Horowitz, of the company’s investment. “Roblox is one of the rare platform companies with gigantic traction and a natural, high-growth business model which will progress the business, and push the business forward for several years to come,” he added.
Roblox intends to leverage the new capital to continue its expansion, including global; further build out its developer tools and ecosystem; and invest in technology infrastructure and talent.
“We’ve remained true to our vision of developing a safe and civil place where individuals come together to create, understand, and have fun, and it is amazing to see what we’ve built together with our worldwide founder community,” said David Baszucki, CEO and co-founder of Roblox, in a statement. “Looking ahead, we are doubling back on our commitment to creating the most advanced technology and tools to take our creators and gamers to the metaverse of their future.