Sections

Find out how to kick start your games industry career

Get Your Free Ticket Today

Roblox closes $150m funding round

Investment lead Andreessen Horowitz also tenders $350 million minority stake offer

Online game platform Roblox has closed a Series G funding round worth $150 million.

Led by venture capital firm Andreessen Horowitz -- which also offered to acquire a $350 million stake in the company -- the investment will be funnelled into technology and infrastructure development.

The Roblox platform allows users to create their own games and profit from the success; as of 2017, Roblox was paying out $140,000 a month to its creators.

The money comes during a growth period for Roblox, having reached 115 million monthly active users and more than 1.5 billion hours of monthly engagement.

"We've stayed true to our vision of creating a safe and civil place where people come together to create, learn, and have fun, and it's amazing to see what we've built together with our global creator community," said co-founder and CEO David Baszucki.

"Looking ahead, we're doubling down on our commitment to building the most advanced tools and technology to take our creators and players into the metaverse of the future."

Andressen Horowitz is joined by new investors Temasek and Tencent -- existing investors include Altos Ventures, Meritech Capital, and Tiger Global Management.

Find out how to kick start your games industry career

Get Your Free Ticket Today

More stories

Roblox reaches agreement with National Music Publishers' Association

The deal opens a negotiation period for music publishers to sign licensing deals with the platform

By Marie Dealessandri

Roblox business model criticized as exploiting children

User-created game platform dinged for low revenue shares, leading creators to pay for advertising, unreasonable policies for cashing out

By Jeffrey Rousseau

Latest comments

Sign in to contribute

Need an account? Register now.