Roblox to go public via direct listing at a valuation of $29.5 billion

Following a $520 million Series H funding round

Roblox to go public via direct listing at a valuation of $29.5 billion

US games platform Roblox will go public via a direct listing rather than through an initial public offering.

Reuters reported that the company changed its plans after it successfully raised $520 million in a Series H funding round, at a valuation of $29.5 billion.

The impressive valuation comes at a crucial time for the company and is actually more than seven times the $4 billion valuation it received last year, during its Series G funding round.

Back when its public plans were first announced, Roblox aimed to double its previous valuation of $4 billion to $8 billion.

Public party

Initially, Roblox was said to be going public via an IPO, which it officially filed for in November 2020. However, rumours of a public offering first began to swirl in October.

Last month, the company pushed back its public plans until early 2021—the reason being that Roblox sought to get a higher IPO pricing.

Through a direct listing, Roblox will not sell any shares in advance, as is common practice with an IPO. Rather, orders coming into the stock exchange will determine the cost of shares.

Staff Writer

Kayleigh is the Staff Writer for Besides PGbiz and PCGI she has written as a list writer for Game Rant, rambling about any and all things games related. You can also find her on Twitter talking utter nonsense.