Epic Games Is Now Worth a Whopping $15 Billion
Epic Games, best known as the publisher and developer of Fortnite, just landed $1.25 billion in financing from high-profile investors. Tim Sweeney, Epic Games’ cofounder and CEO, remains the company’s largest shareholder.
“We’re excited to partner with the finest minds in the financial, sports, and entertainment communities,” Sweeney said in a statement. “This reinforces Epic’s position of leadership in real-time 3D technology, and accelerates our ability to improve the way people play, work, and interact with the world.”
Fortnite has been a massive success and generated hundreds of millions dollars in revenue for Epic Games in the past year alone. Bloomberg news previously valued the company at approximately $8 billion and estimated that Sweeney is a billionaire. Now, The Wall Street Journal says the company is worth around $15 billion.
“Epic Games has fundamentally changed the model for interactive entertainment under the company’s visionary leadership,” Ted Oberwager of KKR said in the announcement.
Other investors include Disney, Tencent, Kleiner Perkins, KKR, Lightspeed Venture Partners, Smash Ventures, Iconiq Capital, and aXiomatic.
Check out some Twitter reactions below.
Epic Games is basically an infinite money machine pic.twitter.com/AM2WxCVVp7
— Owen M. Roe (@OwenMRoe) October 26, 2018
Wow that just happend… Epic creator just raised an astounding $1.25B in new funding! That crazy, llink below#thuglife #ballers #fortnite #fallskirmish https://t.co/2J8mKkocPt
— JeffreyB. (@jeffreyb_live) October 26, 2018
Epic Games just raised $1.25 Billion! What does this mean?
– Bigger and bigger tournaments
– More opportunities for creators to earn $$
– Bigger and faster updates in FortNiteand
FORTNITE 2 pic.twitter.com/saxwDGiH36
— HonorTheCall (@HonorTheCall) October 26, 2018