Roblox Closes $150 Million Financing to Accelerate International Growth
SAN MATEO, Calif.--(BUSINESS WIRE)--Sep 5, 2018--Roblox, the most popular online entertainment platform for kids and teens, announced today it has closed on $150 million in Series F financing led by Greylock Partners and Tiger Global Management with participation from existing investors including Altos Ventures, Index Ventures, and Meritech Capital Partners. This is the largest financing to date for Roblox.
“Roblox’s thriving community and engagement reminds me of the early days of Facebook and LinkedIn. This is a platform that has reshaped the way kids and teens play with friends, through millions of user-created immersive experiences on Roblox,” said David Sze of Greylock Partners. “David Baszucki and the team at Roblox have only scratched the surface of their part in the future of interactive entertainment. We are excited to partner with them as they expand their tools and grow their team to continue to empower tomorrow’s creators around the world through imaginative play.”
Roblox currently has more than 70 million monthly active users on its platform. In addition, there are over 4 million young creators on the Roblox platform who have built over 40 million immersive experiences. Roblox will use a portion of the Series F funding to accelerate international expansion by continuing to build out its global network and increasing support for international languages and currencies.
“Roblox’s mission is to power the imagination of people around the world,” said David Baszucki, CEO and co-founder of Roblox. “This funding will allow us to scale the company as we serve all the creative individuals across the globe who come to our platform.”
This year, the Roblox creator community is on pace to earn more than $70 million from experiences published on the platform. Roblox also recently introduced Roblox Education, an initiative comprised of free, open-source curriculum for educators, summer coding camps, and an online coding challenge aimed at teaching coding fundamentals.
Roblox’s Imagination Platform is ushering in the next generation of entertainment, enabling kids of all ages to imagine, create, and play together in immersive 3D worlds. comScore ranks Roblox as one of the top online entertainment platforms for audiences under the age of 18 based on average monthly visits and time spent. In addition, Roblox has been named one of America’s Fastest-Growing Private Companies on the Inc. 5000 for the past two years. Roblox is freely available on all modern smartphones, tablets, computers, Xbox One, Oculus Rift, and HTC Vive. For more information, please visit https://corp.roblox.com.
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CONTACT: Roblox Corporation
The Hatch Agency
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: EDUCATION PRIMARY/SECONDARY CONTINUING OTHER EDUCATION ENTERTAINMENT ELECTRONIC GAMES TECHNOLOGY INTERNET OTHER TECHNOLOGY CHILDREN PARENTING TEENS TRAINING ONLINE CONSUMER FAMILY
SOURCE: Roblox Corporation
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PUB: 09/05/2018 02:00 PM/DISC: 09/05/2018 02:01 PM