Roblox, the massively popular gaming platform played by over half of U.S. kids under 16, has raised $520 million in a new Series H funding round that includes investors Warner Music Group, Altimeter Capital and others. (Warner’s investment was eight-figures, according to a source familiar with the situation.) The new round increases Roblox’s valuation to $29.5 billion, and the company plans to use the additional funds to “advance Roblox’s growth initiatives.” This isn’t the first time Warner Music Group has partnered with Roblox, with Atlantic Records artist Ava Max hosting aher launch party for her album Heaven & Hell on the platform in September.
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