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Epic Games raises $ 1 billion in investment round – Gaming – News

Epic Games raised $ 1 billion in its most recent round of investment. The company announced this on its own. CEO and founder, Tim Sweeney, will remain at the helm of the company. Remarkably, Sony invested $ 200 million in the US company this year.

With this new round of funding, Epic Games is valued at US $ 28.7 billion. According to the company Allow new investments to ensure future growth.

Sony Group Corporation invested $ 200 million after the Japanese company also transferred 250 million to Epic Games last year, according to Epic Games. The two companies work closely on Unreal Engine 5 and Epic Games is said to have promoted the Playstation 5 console through their channels.

The company’s CEO and founder, Tim Sweeney, remains the company’s majority shareholder and custodian. “These investments allow us to expand our efforts around the Metaverse and social experiences in Fortnite, Rocket League and Fall Guys,” Sweeney said.

The message is coming After the previous news He explains that the Epic Games store, which is part of Epic Games, loses hundreds of millions of dollars every year. This was evident from the pending lawsuit documents between Epic Games and Apple about App Store payment. In 2019 the Epic Games Store was made According to Eurogamer Another loss of $ 181 million, the loss for 2020 is estimated at $ 273 million. Expected to lose $ 139 million for 2021. Epic predicts the Epic Games Store will be profitable by 2023.