‘Fortnite’ creator Epic Games acquires $1B funds from Sony and others totalling value to $28.7B
The company behind the creation of Fortnite ‘Epic Games’ has said that they have successfully raised funds of $1B totalling the value to $28.7B.
The fundraising program would have another strategic investment of $200 million from Sony Group Corp.
Last Summer, Sony had invested $250 million into the private gaming concert. Apart from Sony, Epic Games has also raised funds from various other investment corporations including Appaloosa, T. Rowe Price, KKR, AllianceBernstein, Altimeter, Luxor Capital, and funds and accounts managed by Fidelity and BlackRock.
Tim Sweeney , the Founder and CEO is Epic Games’ controlling shareholder.
Sweeney said that the investments would help in advancing the company’s technological and entertainment aspects through socially connected online platforms. Epic Games has promoted ‘metaverse’ through Fortnite And several other platforms.
During the pandemic, Epic Games have been successful in drawing large crowds through various online activities such as concerts, trailer reveals, screenings and many more virtual events.
Videos Games have been in high demands especially during the Pandemic, including that of Xbox and PlayStation consoles.
Sweeney said, “We are grateful to our new and existing investors who support our vision for Epic and the Metaverse. 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.”
‘Kenichiro Yoshida’ the CEO of Sony Group Corp. said, “Epic continues to deliver revolutionary experiences through their array of cutting edge technologies that support creators in gaming and across the digital entertainment industry.”
Kenichiro further added that Sony is excited to extend collaboration with Epic Games and it would help in bringing new experiences in entertainment and technology for people worldwide. He said that this would fill the World with emotions through the power of creation and technology.
