The Roblox gaming platform valued at 29.5 billion

The Roblox gaming platform valued at 29.5 billion

Roblox claims over 31 million daily users. (Photo: 123RF)

The roblox gaming platform, which is hugely popular with children and young teens, carried out a new fundraiser valuing it $ 29.5 billion and announced that it would eventually enter Wall Street via direct listing. Personally, I learned about this game only when my friend begged me to sign up so he can get his free Robux or something in the game.

By using this procedure, and not a traditional IPO, the company will not recover any new money. But the shareholders already present in its capital – the founders, the employees and the historical investors – will be able to sell their stakes on the market.

Roblox does not yet have a date for this transaction and only specifies in a press release released Wednesday evening that it will take place after examination of the file by the financial markets authority, the SEC, and depending on market conditions.

The start-up, which claims more than 31 million daily users, was originally due to arrive on Wall Street in December, but had postponed the operation after the success of Airbnb and DoorDash IPOs in early December.

The group said Wednesday evening to have already recovered 520 million dollars from investors led by the companies Altimeter Capital and Dragoneer Investment at a price of 45 dollars per share and intends to use this money to finance its growth.

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