Stock Quote

Fortnite-maker Epic completes $1B funding round

How much is Epic Games worth? Well, we’ve long ago surpasses the realm of dollar figures regular humans can contextualize. With its latest round, the gamer hits an equity valuation of $28.7 billion. Yes, “b” for “billion.” That’s a lot of micro-transactions. Time to start talking metaverse! Best known for the wildly successful battle royale […]

How much is Epic Games worth? Well, we’ve long ago surpasses the realm of dollar figures regular humans can contextualize. With its latest round, the gamer hits an equity valuation of $28.7 billion. Yes, “b” for “billion.” That’s a lot of micro-transactions.

Time to start talking metaverse!

Best known for the wildly successful battle royale title, Fortnite, Epic just announced another $1 billion funding round, featuring a $200 million Sony Group Corporation investment. The rest of the list is, predictably, a long one, including [deep breath], Appaloosa, Baillie Gifford, Fidelity Management & Research Company LLC, GIC, T. Rowe Price Associates-managed accounts, Ontario Teachers’ Pension Plan Board, BlackRock managed accounts, Park West, KKR, AllianceBernstein, Altimeter, Franklin Templeton and Luxor Capital.

“We are grateful to our new and existing investors who support our vision for Epic and the Metaverse,” CEO and founder Tim Sweeney said in a statement tied to the news. “Their investment will help accelerate our work around building connected social experiences in Fortnite, Rocket League and Fall Guys, while empowering game developers and creators with Unreal Engine, Epic Online Services and the Epic Games Store.”

Sweeney has plenty of reason to be grateful, as the controlling shareholder.

It’s been a busy several months for the game-maker. The company has been waging an on-going war with the both Apple and Google over in-game payment revenues. Epic has also been using its already extremely deep coffers to purchase game developers and publishing studios, including its March acquisition of Fall Guys-maker Mediatonic.

Prior to this round, the company had raised $3.4 billion, including a a $1.78 billion round last August.

Developing…

Epic cries monopoly as Apple details secret ‘Project Liberty’ effort to provoke ‘Fortnite’ ban

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.