Epic reportedly valued at more than $15bn in new funding round

Epic reportedly valued at more than $15bn in new funding round

Fortnite maker Epic Games has been valued at more than a massive $15bn in a new round of investment.

As reported by Bloomberg, the company is apparently planning to raise between $500m and $1bn with this new fundraising push, which would mean the firm is worth "significantly" more than $15bn.

There's no word yet on who Epic Games is hoping to attract for investment. In 2018, a group of companies including KKR & Co and Vulcan Capital bought $1.25bn in shares in the Fortnite firm.

Epic was valued at $15bn in January 2019 when its CEO Tim Sweeney (pictured) entered the Bloomberg Billionaire Index.

This follows the company's further diversification in its business. The firm launched a new games storefront at the end of 2018 with a competitive 88 per cent revenue sharing policy. That platform has been successful, according to Epic itself, with the company adopting an aggressive exclusivity strategy.

The firm has also started publishing games with a new label that features titles from Remedy and Max Payne studio Remedy, as well as beloved indie developer Playdead of Limbo and Inside fame.

In June 2019, Epic also bought social app Houseparty, which has become wildly popular due to the on-going COVID-19 coronavirus pandemic.

PCGamesInsider Contributing Editor

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for, VGC, Games London, The Observer/Guardian and Esquire UK.


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