Roblox Raises $520M led by Altimeter Capital and Dragoneer Investment Group
SAN MATEO, Calif., MENLO PARK, Calif., and SAN FRANCISCO, Calif. – January 6, 2021 – Roblox, a global online platform bringing people together through play, announced today it has raised $520 million in new Series H funding at a purchase price of $45.00 per share led by Altimeter Capital and Dragoneer Investment Group. The Investment Group of Santa Barbara and Warner Music Group, along with several current investors, also participated in this round. The Series H funding values the company at $29.5 billion and the proceeds from the financing will advance Roblox’s growth initiatives and mission to build a human co-experience platform that enables shared experiences among billions of users.
“We’re thrilled to welcome Altimeter, Dragoneer and the other new investors,” said David Baszucki, CEO and co-founder of Roblox. “We look forward to working with all of them as we continue our mission to build a human co-experience platform that enables shared experience, from play to work, and learning among billions of users.”
“While once viewed as a gaming platform, Roblox has emerged as a definitive global community connecting millions of people through communication, entertainment and commerce,” said Brad Gerstner, CEO of Altimeter. “And as the world moves toward a hybrid future – where online and offline community and learning co-exist, we are proud to back a values-driven business that takes seriously its obligation to build an inclusive, creative, and positive community.”
“Roblox has built a unique and imaginative virtual experience with a growing, loyal community, and we’re excited to have the opportunity to support the company at this stage of its development,” said Marc Stad, Founder and Managing Partner of Dragoneer Investment Group. “We look forward to partnering with the Roblox team as they continue to execute on a compelling growth strategy and capitalize on the substantial opportunities ahead.”
Roblox’s mission is to build a human co-experience platform that enables shared experiences among billions of users. Every day, an average of more than 31 million people around the world have fun with friends as they explore millions of immersive digital experiences. All of these experiences are built by the Roblox community, made up of over seven million creators. We believe in building a safe, civil, and diverse community—one that inspires and fosters creativity and positive relationships between people around the world. For more information, please visit corp.roblox.com.
About Altimeter Capital
Altimeter is a leading technology focused investment firm based in Silicon Valley with over $15 billion in assets from endowments, foundations, and family offices. Altimeter has a history of backing exceptional founders building iconic technology companies and seeks to invest and advise companies throughout their life cycle – from VC to IPO and beyond. Altimeter manages a variety of funds – VC, SPV, SPAC, and Hedge Fund – to support this mission. Representative investments include: Snowflake, Bytedance, Unity, Twilio, Okta, Pinduoduo, Uber, Zillow, Epic, Mongo, Sea Limited, and DataRobot.
Dragoneer is a San Francisco-based, growth-oriented investment firm with approximately $12 billion in long-duration capital from many of the world’s leading endowments, foundations, sovereign wealth funds, and family offices. Dragoneer has a history of partnering with management teams growing exceptional companies characterized by sustainable differentiation and superior economic models. The firm’s track record includes public and private investments across industries and geographies, with a particular focus on technology-enabled businesses. Dragoneer has been an investor in companies such as Airbnb, Alibaba, AppFolio, Bytedance, Chime, Datadog, Doordash, Duck Creek, Farfetch, Nubank, Pinterest, PointClickCare, Slack, Snowflake, Spotify, Uber, and others.
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