Roblox Unearths $92 Million to Challenge Microsoft’s Minecraft
- Gaming startup’s player base ranges in age from 6 to 16
- Revenue comes from third-party games sold through its platform
Roblox
Source: RobloxThis article is for subscribers only.
As venture capitalists search for the next Minecraft, their latest bet is on a company called Roblox Corp., which makes a virtual world that happens to look a lot like Minecraft.
Roblox said Tuesday that it raised $92 million in a financing round led by Index Ventures and Meritech Capital Partners. It plans to use the cash to hire coders who will focus on making mobile and social tools, as well as to buy back shares from employees who want to cash out. The San Mateo, California-based company declined to comment on its valuation.