Roblox Corp announced on Wednesday January 6 a new round of $ 520 million Series H fundraising led by Altimeter Capital and Dragoneer Investment Group. The investment fund Santa Barbara and Warner Music Group, as well as several other investors whose names remain confidential, also participated in this round table, which values the company at 29.5 billion dollars.
This new money will be used to accelerate the growth of Roblox and create “a human coexperience platform that allows the sharing of experiences between billions of usersThe date of the initial public offering (IPO), postponed a month ago, is not indicated. As a reminder, Roblox was valued at $ 4 billion only 11 months ago. multiplied by 7, this valuation also exceeds the initial plans of the start-up, which aimed for a valuation of 8 billion dollars last November, according to Reuters.
206 million dollars in losses in 2020
Based in San Mateo, California, Roblox is a video game platform primarily aimed at young people and children. Created in 2004 by David Baszucki, it has the particularity of being supplied by external developers to whom it provides the necessary tools, via downloadable software, to create games and play them online. Each user can access the catalog of games created by third parties. Its free-to-play, and essentially multiplayer, content is available on Microsoft Windows, Xbox One, Android, iOS, macOS, Fire OS and Mac OS.
Roblox claims 31 million daily users, up 82% in one year. The Covid-19 pandemic has been very favorable to the activity of the Californian start-up, which recorded a 90% jump in revenues in one year, to $ 589 million. The platform has gradually transformed into a global community. Present in France and Germany since 2019, it is now targeting the Asian market and seeking to ally with Tencent. It also announced the acquisition of the start-up Loom.ai, specializing in the creation of realistic avatars, in December.
Despite these good indicators, the company is failing to achieve profitability and it continues to widen its losses, amounting to $ 206 million since last January, against $ 46 million in a comparable period.