The Roblox Corporation, the developer of an online social gaming platform just ended its latest funding round. Through it, it raised $92 million that will be used in order to advance its services.
Roblox is a user-generated multiplayer online social gaming platform. It is published and developed by the Roblox Corporation and it was released in 2006. Platform members are able to generate their own virtual worlds. They can also create games of their own within the platform. Some of tens of millions of active users play use the platform on a monthly basis. Roblox is known to have a young user basis. Most of them are between 6 to 16 years old.
The Latest Funding Round May Bring Changes To The Roblox Infrastructure
The platform developer recently ended its latest funding round. This was closed on March 14th, this Tuesday. The company followed this announcement with a statement on the matter. In it, Roblox offered additional details about its future plans and company investors.
As such, it revealed that it managed to raise $90 million. This reportedly exceeded its expectations. All in all, the company raised a total of $102 million in funding up to date.
These have and will continue to be invested in the massive multiplayer platform. The social gaming startup has been moving quite fast recently. Back in December, it announced that its user growth reached 30 million MAUs. That is monthly active users. As a whole, Roblox reported over 48 MAUs.
Presently, the platform offers around 22 million online games. These were created by its over 1.7 million creators. They create the games by using the platform’s Lego-like games structure.
Thanks to the latest funding, the company is planning to enhance its platform. It will do so by updating its infrastructure. It will also be trying to bring in new talent. These are also just a few examples of the developer’s latest endeavors.
Roblox Is Also Transitioning From Online To Offline
Recently, Roblox released an online to offline expansion. The transition was made possible thanks to the company’s toy line. This is the first ever user-generated line of products released by the company. For the release, the developer collaborated with Jazwares, a toy licensing company.
The resulting toy line is available both in online and physical stores. These latter include Toy R Us locations as well as other retailers. Roblox’s collaboration also reportedly marked the beginning of its offline strategy. One which aims to bring the company to retail both throughout 2017 and beyond.
Roblox will look forward to advancing in both the online and offline domains. Dave Baszucki, the Roblox CEO, stated as follows.
“It’s an opportunity for us to push harder on high-quality hiring, product development, strengthening the balance sheet, and bringing in a couple of great partners”.
Presently, Roblox is available across a wide range of platforms. These include smartphones, consoles, desktops, and various virtual reality platforms. Although the platform’s visuals are quite basic, it holds a high degree of customizability which can be accessed through its many creative tools.
Image Source: Pixabay