First Round passed on Roblox in 2008 at a $10M valuation
Chris Fralic · 20VC: The Roblox Memo: First Round's Chris Fralic on The 17 Year Journey to Build a $41BN Market Cap Company, Why It Is Way Harder To Increase Ownership Across Rounds Today & What Happens Post SPACMania · Apr 29, 2021 · at 4:16
Chris Fralic, Board Partner at First Round Capital, details why the firm initially declined to invest in Roblox's early funding round in 2008.
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“We decided not to invest in January of 2008. A lot of it was based on the price. Your listeners might laugh, but a ten million dollar valuation seemed outrageous, was way out of our normal range back then, and the game really looked raw.”
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