Gaming platform Roblox valued at $30 billion, plans direct listing

(Reuters) – Roblox Corp said on Wednesday it aims to go public through a direct listing, instead of an initial public offering (IPO) as originally planned, and has raised new funding in a deal that values the U.S. gaming platform at nearly $30 billion.

In a statement, Roblox said it had raised around $520 million in a new Series H private fundraising round led by Altimeter Capital and Dragoneer Investment Group.

The funding round valued Roblox at $29.5 billion, more than seven times the $4 billion the company was valued at in its Series G round 11 months ago.

San Mateo, California-based Roblox is among the world’s most popular gaming sites for children and offers a host of games across mobile devices and games consoles.