On February 26, 2020, Roblox announced it raised $150 million and launched a tender offer to buy up to $350 million of common and preferred shares. The financing round was led by venture-capital giant Andreessen Horowitz. New investors included Temasek and Tencent Holdings Limited. Existing investors including Altos Ventures, Meritech Capital, and Tiger Global Management also participated in the funding round. Wilson Sonsini Goodrich & Rosati represented Roblox in the transaction; former Wilson Sonsini partner Mark Reinstra, who is now serving as general counsel of Roblox, was also involved in the financing.

Roblox has now raised $335 million in funding overall and counts itself among gaming companies that have raised hundreds of millions of dollars from venture-capital investors in recent years, according to PitchBook Data. The platform, which was released in 2006, isn’t just a single game: It is a free online hub with tens of millions of games, all of which were made on the platform with tools the company provides. Even given its age, Roblox is continuing to grow its user base, moving to more than 115 million monthly active users world-wide from about 70 million in 2018, the company said.

The Wilson Sonsini team representing Roblox in the transaction includes:

Corporate
Michael Coke
RJ Lang
Andie Kim

Tax and Tax Equity
Jonathan Zhu
Derek Wallace

Employee Benefits and Compensation
Scott McCall
Jessica Bliss

Privacy and Cybersecurity
Matt Staples

Regulatory/CFIUS
Joshua Gruenspecht
Seth Cowell
Anne Seymour

Technology Transactions
Gary Greenstein
Barclay Oudersluys

For more information, see Roblox's press release and The Wall Street Journal's article covering the funding round.