![]() In trial, a judge ruled that Apple was OK to charge a commission, but found that the tech giant’s anti-steering rule (which said that companies like Epic couldn’t direct users to their website to pay for a subscription or content) was inappropriate. The gaming company argued that Apple’s 30 percent cut of purchases was monopolistic. The company has also been on the hunt for acquisitions, most recently the music and artist community platform Bandcamp, just last month.īut it has also faced public scrutiny, driven by its antitrust lawsuit against Apple. “This investment will accelerate our work to build the metaverse and create spaces where players can have fun with friends, brands can build creative and immersive experiences and creators can build a community and thrive,” said Sweeney in announcing the deal.Įpic has seen record-smashing growth in recent years, driven by Fortnite and the continued expansion of Unreal. Tabloids National Enquirer, Globe, National Examiner to Be Sold to Joint Venture Epic founder and CEO Tim Sweeney remains the controlling shareholder of the company. Epic last raised cash in May of last year at a $28.7 billion valuation. ![]() Sony and KIRKBI will each contribute $1 billion in the round, which values Epic at $31.5 billion. and KIRKBI, the owner of the Lego toy and entertainment brand.Įpic says it will use the cash infusion to work with its investors and “create new social entertainment exploring the connection between digital and physical worlds.” Yes, it’s about the metaverse. Epic Games has raised $2 billion from Lego owner Kirkbi Invest and Sony as the trio eyes opportunities to build virtual experiences that will lay groundwork for the metaverse.Epic Games, the publisher of the popular video game Fortnite and creator of the Unreal Engine graphics software that is popular with Hollywood, has raised $2 billion in a new fundraising round from Sony Group Corp. Twelves months ago, Epic raised 1 billion at a valuation of 29 billion. The deal increased Epic's post-money valuation to $31.5 billion, indicating less than $1 billion in organic valuation growth since April 2021-a slower pace relative to the company's reported valuation growth in prior years. As Epic Games pushes further into the metaverse, it’s strengthening ties with giants in digital entertainment and toys. By Senad Karaahmetovic Fortnite's Epic Games Raises 2 Billion From Sony and Lego-owner KIRKBI at 31. The Fortnite maker raised 2 billion, split evenly between Sony and Kirkbi, owner of The Lego Group.The new funding bumped Epic’s valuation to 31.5 billion. Late-stage valuations have come under pressure in recent months because of public stock declines. The gaming industry is also contending with less rapid growth than it saw during the early days of the pandemic. Epic rival Roblox's market capitalization has fallen more than 42% since its direct listing in March 2021, from $45.3 billion to $25.9 billion today. Sony and KIRKBI will each contribute 1 billion in the round, which values Epic at 31.5 billion. The new investment supports Epic's efforts to build "social entertainment" experiences-not just games-for adults and children, in coordination with strategic partners. Sony and KIRKBI have each invested 1B in Epic Games to advance the company’s vision to build the metaverse and support its continued growth. Epic last raised cash in May of last year at a 28.7 billion valuation. The North Carolina-based developer, known best for the hit game Fortnite, released a statement regarding the investment. Epic Games, the world-famous creator of Fortnite, recently announced it had closed a 2 billion financing round that featured investments from both Sony, and KIRKBI, the family-owned company behind The Lego Group.Both Sony and KIRKBI reportedly invested 1 billion apiece into Epic Games. Sony, which has invested in Epic before, plans to leverage the company's game engine to create virtual sporting events and other experiences.Įpic and Lego also recently partnered to build digital experiences aimed at children, illustrating a metaverse that would be more focused on creativity and play than traditional gaming. Among the Metaverse with Epic Games sponsors are Kirkbi and Sony, who have claimed that the belief in the project is significant as the project is long-term. And, in another sign of broadening ambitions, Epic Games acquired music marketplace Bandcamp in March. ![]() ![]() Developers at Epic Games and the new collections Among the latest news, Epic Games talk about the money they have obtained from companies such as Kirkbi and Sony. Game developers have walked a cautious line in describing their visions for the metaverse.
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