Home / Technology / Fortnite maker Epic Games worth USD 17.3 billion after new round of financing

Fortnite maker Epic Games worth USD 17.3 billion after new round of financing



Epic Games, the developer of the popular video game “Fortnite”, has a value of 17.3 billion US dollars after its last financing round.

The California-based software developer and publisher, which was founded in 1991, announced on Wednesday a $ 1.78 billion financing round, which according to a statement will consist of purchases of primary capital and employees.

Best selling video games in the US

“Supporting executives in the financial world accelerates Epic̵

7;s efforts to build a new breed of digital ecosystem using real-time 3D technology, services that connect hundreds of millions of people, and a digital storefront that offers a fair business model,” so Epic Games CEO Tim Sweeney said in a statement.

The financing includes a previously known strategic investment of $ 250 million from Sony Corp., which announced Tuesday that April-June profits rose 53 percent as the coronavirus pandemic restrictions and lockdown increased Keeping people at home, which led to increased use of video games.

CORONAVIRUS HELPS SONY TO INCREASE PLAYSTATION 5 PRODUCTION BY 50%: REPORT

The Tokyo-based company posted profits of $ 2.2 billion in the first quarter of 2020, up from $ 1.3 billion in 2019.

ticker safety 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, the 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 more than 350 million accounts. Epic also operates Unreal Engine, a 3D creation tool for developers.

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