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‘Fortnite’ Maker Epic Games Valued at Nearly $29 Billion in Funding Round

Published by

December 5, 2024
(GMT+2)

“Fortnite” creator Epic Games Inc. is now valued at $28.7 billion after raising more capital, funding that arrives just weeks before the videogame company heads to trial in opposition to Apple Inc.Epic on Tuesday stated that it completed a $1 billion funding round that includes an additional $200 million from Sony Group Corp. The company, which also counts Walt Disney Co. and China’s Tencent Holdings Ltd. among its investors, was valued at $17.3 billion as of last August. Its chief executive, Tim Sweeney, remains the company’s controlling shareholder. “We are grateful to our new and existing investors who support our vision for Epic and the Metaverse, “ Mr. Sweeney stated in a written statement, referring to the concept of a collective virtual shared space. Epic started in 1991. In addition to the shooter game “Fortnite,” it makes the Unreal Engine, a suite of software tools for developing video games and producing special effects for television shows, movies and other types of digital content. It also owns the video-chat app House party and the studios behind hit games such as ‘Rocket League” and “Fall Guys: Ultimate Knockout.”

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