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Epic Games raises $ 1 billion from Fortnite

Epic Games raised $ 1 billion and is now worth $ 28.7 billion.

Tubman Tim Sweeney It remains the controlling shareholder even after the round of capital. The Japanese company Sony invested $ 200 million. In July last year, Sony pumped $ 250 million into the US company, with a 1.4 percent stake and a valuation of $ 17.9 billion.

CEO Tim Sweeney strives for a digital environment where users have social connections and ultimately work and study.

Epic Games recently appeared in the news mainly due to the conflict with Apple banning the popular Fortnite game from its app store. The action came after Epic Games introduced their payment system in their app. I did this to avoid the 30 percent commission that Apple charges. There is now a lawsuit with Apple.

It is an electronic game

Epic Games launched the free “battle-royal” Fortnite in 2017. Players spend a lot of money on digital items like free dances and skins. The game is still very popular, although few players say the climax is over. Millions watch streaming videos from successful players.

There are also hosted game shows and events in Fortnite attended by millions of players at the same time. This fits Sweeney’s vision. Who strives for ‘MetaverseIt is a digital environment in which users have social connections and go to shows, and ultimately they also work and study. The metaverse should not be controlled by one company, but it should be the property of all. Only then can you have a free and fair virtual economy, “he said at a conference earlier this year.

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Epic Games is much more than Fortnite. She has other games too and has recently acquired Mediatonic UK studio. He made Fall Guys, a battle royale with some success. The company also runs the Epic Games Store and is a competitor to Valve’s Steam. The store, which has about 160 million users, is taking a toll.

With Unreal Engine, Sweeney has a software platform that many developers use to create video games that are also used for movies and TV. Relations with Sony appear to be very good. Epic used the PS5 console to demonstrate the Unreal Engine 5 and the two companies are cooperating on the technical aspects of PS5. “We have worked closely with Sony on storage architecture for a long time,” Sweeney says.