This new round values the company at $29.5 billion, it said. On Wednesday, the company said it had raised $520 million in a Series H funding round led by Altimeter Capital and Dragoneer Investment Group, bringing its total financing to around $855 million. "We have concluded that a direct listing is the best path for Roblox as we believe it will create a more market-based relationship for all our stakeholders." Based on that work, today we announced that we intend to go public by a direct listing on the New York Stock Exchange," Baszucki wrote in the email. "As I shared before the break, we've been taking a closer look at ways to improve our specific listing process for employees, shareholders, and future investors. The company also said it would do a direct listing in the press release announcing the funding. In an email seen by Insider, Roblox's chief David Baszucki wrote that the company has bagged plans for an initial public offering and will pursue a rare but increasingly popular alternative: a direct listing. Account icon An icon in the shape of a person's head and shoulders.
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