Epic Raises $1 Billion in Funding for Metaverse

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Image: Epic Games Store

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

Peter Brosdahl
As a child of the 70’s I was part of the many who became enthralled by the video arcade invasion of the 1980’s. Saving money from various odd jobs I purchased my first computer from a friend of my dad, a used Atari 400, around 1982. Eventually it would end up being a lifelong passion of upgrading and modifying equipment that, of course, led into a career in IT support.

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