Roblox secures $150 million in latest funding round

Roblox

Roblox is one of the biggest online games for the past years. It has about 115 million monthly active users and more than 1.5 billion hours of monthly activity. Lately, The Online MMO platform raised $150 million in funding that was led by Andreessen Horowitz’s late-stage venture fund. The company also offered to buy a $350 million stake in the platform which will be used in technology and infrastructure development.

Roblox will use the funding to grow more

Roblox will use the funding to support creators worldwide with advanced technologies to build a better, immersive experience. They are planning to achieve this by growing its engineering team. In 2017, the online platform paid $140,000 a month to its creators. Also, the company is offering stakeholders and employees the chance to participate in a second round.

Roblox

“We’ve stayed true to our vision of creating a safe and civil place where people come together to create, learn, and have fun. It’s amazing to see what we’ve built together with our global creator community,” said Roblox CEO and co-founder David Baszucki.”Looking ahead, we’re doubling down on our commitment to building the most advanced tools and technology to take our creators and players into the metaverse of the future.”

Roblox chief financial officer Michael Guthrie added: “The expertise of the Andreessen Horowitz team will strengthen our roster of world-class investors.” If we add the latest investment, the company now worths four billion dollars.

What is Roblox?

Its a massively multiplayer online video game and game creation system. Roblox allows users to design their own games and play variety of different types of games created by other users. It is available on Xbox One, Android, Windows, iOS and virtual reality platforms like Oculus and HTC Vive. We don’t know why it needs more funding but it’s competing with Microsoft’s Minecraft, so we don’t blame them.

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