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Roblox to go public through direct listing, not IPO

New fundraising reportedly brings the company valuation to nearly $30 billion

Roblox is reportedly preparing to go public through a direct listing rather than an IPO, as was initially planned.

As reported by Reuters, the company recently completed a new Series H fundraising round worth around $520 million led by Altimeter Capital and Dragoneer Investment Group.

This new influx of funding brings the company's valuation to around $29.5 billion.

Last year, Roblox filed with the SEC to make an IPO, revealing at the time that the company had not turned a profit since its founding in 2004 -- though sources speaking to CNBC earlier in the year had suggested that the company wanted to double its then-most-recent valuation from $4 billion to $8 billion.

However, in December Roblox delayed its IPO to 2021, saying in a memo to employees that it was aiming to get a higher IPO pricing.

Through a direct listing, Roblox would sell no shares in advance as it would have with an IPO, a plan that had been previously floated when the company first began discussing going public.

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Rebekah Valentine

Senior Staff Writer

Rebekah arrived at GamesIndustry in 2018 after four years of freelance writing and editing across multiple gaming and tech sites. When she's not recreating video game foods in a real life kitchen, she's happily imagining herself as an Animal Crossing character.