After reports of considerably alarming financial losses, Epic Games has announced that the Epic Game Store completed a $1 billion funding drive, bringing its equity valuation to $28.7 billion. One of the largest contributors was Sony, which gave $200 million for strategic investment. Other investors include AllianceBernstein, Appaloosa, Altimeter, Baillie Gifford, funds and accounts managed by Appaloosa, Baillie Gifford, and Fidelity Management & Research Company LLC.
“We are grateful to our new and existing investors who support our vision for Epic and the Metaverse. Their investment will help accelerate our work around building connected social experiences in Fortnite, Rocket League and Fall Guys, while empowering game developers and creators with Unreal Engine, Epic Online Services and the Epic Games Store,” said Tim Sweeney, CEO and Founder, Epic Games.
Source: Epic Games