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Epic Games, the developer behind the popular video game “Fortnite”, is worth $ 17.3 billion after its last round of funding.
The California-based software developer and publisher, founded in 1991, announced on Wednesday a $ 1.78 billion round of financing, consisting of primary capital and employee purchases, according to a statement.
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“The support from financial community leaders has accelerated Epic’s efforts to build a new kind of digital ecosystem with real-time 3D technology, services that connect hundreds of millions of people, and a digital retail space that provides a offers honest business model, “Epic Games CEO Tim Sweeney said in a statement.
The financing includes a previously known $ 250 million strategic investment from Sony Corp., which on Tuesday said its profits for April through June increased 53 percent as the coronavirus and lockdown pandemic kept more people at home, which resulted in more use of video games.
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The Tokyo-based company reported a profit of $ 2.2 billion for the first quarter of 2020, up from about $ 1.3 billion in 2019.
| Ticker | Security | Last | Change | Change% |
|---|---|---|---|---|
| SNE | SONY CORPORATION | 80.03 | -0.44 | -0.55% |
Other investment partners include Baillie Gifford, BlackRock, Fidelity Management & Research Company LLC, Lightspeed Venture Partners, Ontario Teachers’ Pension Plan Board, T. Rowe Price Associates Inc., and David Tepper, the company said in a press release.
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“Fortnite” is one of the most popular video games in the world with over 350 million accounts. Epic also operates Unreal Engine, a 3D creation tool for developers.
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