Deals
Roblox Switches to Direct Listing From IPO With Investment
- Online game maker raises $520 million in private placement
- Roblox valued at $29.5 billion in Altimeter, Dragoneer funding
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Roblox Corp. intends to go public through a direct listing instead of an initial public offering as it earlier planned.
The online gaming company announced the switch on Wednesday, confirming an earlier Bloomberg report. Roblox also said that it raised $520 million through a series H private placement that valued it at $29.5 billion, according to a separate statement. The round was led by Altimeter Capital and Dragoneer Investment Group.