fortnite-maker epic completes $1b funding round
Epic Games' Valuation: Reaching New Heights
Determining the net worth of Epic Games now extends beyond conventional financial comprehension. The company’s recent funding round has resulted in an equity valuation of $28.7 billion. This substantial figure, denoted with a “b” for “billion,” reflects the significant revenue generated through in-game transactions.
A Leap into the Metaverse
The success of the battle royale game Fortnite has propelled Epic Games to prominence. Recently, the company announced a new $1 billion funding round, with a $200 million investment from Sony Group Corporation.
A Diverse Investor Group
The remaining investment comes from a broad spectrum of firms. These include Appaloosa, Baillie Gifford, Fidelity Management & Research Company LLC, GIC, T. Rowe Price Associates-managed accounts, Ontario Teachers’ Pension Plan Board, BlackRock managed accounts, Park West, KKR, AllianceBernstein, Altimeter, Franklin Templeton and Luxor Capital.
Statements from Leadership
“We are grateful to our new and existing investors who support our vision for Epic and the Metaverse,” stated CEO and founder Tim Sweeney. “Their investment will help accelerate our work around building connected social experiences in Fortnite, Rocket League and Fall Guys.”
This investment will also empower game developers and creators through Unreal Engine, Epic Online Services and the Epic Games Store.
Sweeney's Position
As the controlling shareholder, Sweeney has considerable reason for optimism regarding the company’s future.
Ongoing Legal Battles
The past few months have been particularly active for Epic Games. The company is currently engaged in legal disputes with both Apple and Google concerning revenue from in-game purchases.
A high-profile trial, expected to involve key figures in the technology industry, is scheduled to begin next month.
Strategic Acquisitions
Epic Games has been actively utilizing its financial resources to acquire game developers and publishing studios. The March acquisition of Mediatonic, the creators of Fall Guys, exemplifies this strategy.
This trend of expanding its portfolio through acquisitions is likely to continue following this latest funding round.
Strengthened Partnership with Sony
The funding round is also anticipated to reinforce the relationship between Epic Games and Sony. Kenichiro Yoshida, CEO of Sony Group Corporation, commented on the investment.
Previous Funding Rounds
Prior to this latest round, Epic Games had already secured $3.4 billion in funding, including a $1.78 billion round in August of the previous year.
Brian Heater
Brian Heater: A Profile of a Veteran Tech Journalist
Brian Heater held the position of Hardware Editor at TechCrunch until the beginning of 2025. Throughout his career, he has consistently contributed to prominent technology-focused media outlets.
Extensive Experience in Tech Journalism
Heater’s professional background includes significant roles at several well-respected publications. These include Engadget, PCMag, Laptop, and Tech Times, where he ultimately functioned as the Managing Editor.
His journalistic work extends beyond dedicated tech publications. His writing has been featured in a diverse range of media, demonstrating a broad scope of interests and capabilities.
A Diverse Portfolio of Publications
The breadth of publications featuring Heater’s work is notable. It encompasses titles such as Spin, Wired, Playboy, Entertainment Weekly, The Onion, Boing Boing, Publishers Weekly, and The Daily Beast.
Additional Creative Pursuits
Beyond his writing, Brian Heater is also involved in audio content creation. He currently hosts the weekly Boing Boing interview podcast, titled RiYL.
Broadcast and Personal Life
Heater has also contributed regularly to NPR as a commentator. He resides in a Queens apartment, sharing his home with a pet rabbit named Juniper.
His multifaceted career showcases a dedication to both written and spoken media within the technology landscape.