![]() Unity’s shares are up more than 60% since trading began. Game engine maker Unity raised $1.3 billion at a $13.6 billion valuation in an IPO on September 18, even though it is losing money. ![]() ![]() The game industry is one of the few economic sectors that is doing well during the pandemic. this Christmas, reaching $6.6 million in gross revenue, up 40.4% from a year ago. ![]() In Sensor Tower’s recent report on holiday spending, it found that Roblox was the highest-earning mobile game in the U.S. Last year, consumer spending in the mobile version of the game more than doubled from the previous year, reaching over $1 billion in revenue globally. Measurement firm Sensor Tower said that Roblox saw 159.6 million installs globally from across the App Store and Google Play in 2020, up 43% from a year ago, when it had 111.4 million installs in 2019. Its valuation at that time was $4 billion. Last year, the company raised $150 million in venture funding from Andreessen Horowitz in a deal announced in February. Securities and Exchange Commission for a traditional IPO. Roblox had said earlier that it filed a confidential draft registration statement with the U.S. “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.” “We’re thrilled to welcome Altimeter, Dragoneer and the other new investors,” said Roblox CEO David Baszucki in a statement. The company will use its proceeds to grow itself and build a “human co-experience platform that enables shared experiences among billions of users.” Roblox sold its shares in a Series H funding round at $45 per share to Altimeter Capital and Dragoneer Investment Group. It saves on underwriter fees, and companies that follow the direct listing process can avoid restrictions such as lockup periods that prevent insiders from selling their shares for a defined period of time. This enables the San Mateo, California-based company’s existing shareholders (investors, employees, and executives) to float its shares on an exchange without hiring investment banks to underwrite the transaction as an IPO. ![]() Securities and Exchange Commission said it would permit companies to raise capital through direct listings. ![]()
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