Roblox raises $150 million and sets sights on China

Newsbrief: Roblox, the company behind the social game platform of the same name, has raised an additional $150 million in funding through a funding round led by Greylock Partners and Tiger Global. 

According to TechCrunch, the goal of the funding round itself was, among other reasons, to set the company up with a “strong balance sheet” as it looks toward international growth. To that end, Roblox is now looking at setting up offices in China and other regions, though details on partnerships to make that move possible have yet to be announced.

The game creation platform Roblox itself has been steadily growing for years, both in terms of active players and the number of in-game developers creating free-to-play content for the platform. As of July, Roblox hosted 40 million games and predicted that it would pay out roughly $70 million to developers in 2018, over twice the 2017’s estimated $30 million payout.