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Friday, March 29, 2024

‘Fortnite’ Maker Valued at Nearly $32 Billion in Funding Round

‘Fortnite’ Maker Valued at Nearly $32 Billion in Funding Round

Epic Games raises $2 billion in biggest fundraising for a videogame company in two decades

‘Fortnite” creator Epic Games Inc. raised $2 billion, the most for any gaming company in two decades, from investors including Sony Group Corp.

The funding means that Epic is now valued at $31.5 billion, after Sony and Kirkbi A/S, the holding company of the Kirk Kristiansen family, put in $1 billion apiece, according to a statement.

The company, which also counts Walt Disney Co. and China’s Tencent Holdings Ltd. among its investors, was valued at $28.7 billion as of last April. Its chief executive, Tim Sweeney, remains the company’s controlling shareholder.

The company said the funding will advance the company’s aims to build the metaverse — a term used to…

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