Epic Games set to cross $15 billion evaluation with another round of funding

Fortnite owner Epic Games is all set for another round of fundraising after Epic Games' net worth was evaluated at a whopping $15 Billion.

Tim Sweeney is an American businessman who is the founder and CEO of Epic Games, a company that owns Fortnite and Unreal engine, a popular platform for game development. Sweeney's contribution has undoubtedly sparked a frenzy within the gaming community, making it a 'hot-pick' among investors.

Apart from hosting their fundraiser, Epic Games has recently also been a hot topic in the industry for buying rights to the 'House Party' app that is popular among teenagers looking to video chat and play games at the same time.

Fortnite

The official statements regarding finances related to the acquisition remain undisclosed at the moment.

Based on the rampant growth rate that the HouseParty app has recently picked on, adding over 50 million users within 30 days, it is safe to assume Epic clearly knows which direction to take in order to make the most out of their investment.

According to a Bloomberg source, Epic Games has discussed raising between $500 million to $1 Billion during this round of funding. The article suggests the exact valuation that the company seeks is still unclear. However, it is expected to be an amount higher than $15 Billion.

Fornite and House Party leading Epic towards growth?

Fortnite

Epic Games-owned Fortnite and House Party have both seen traffic surges due to the ongoing COVID-19 pandemic, since most of us are forced to stay at home.

While most of us may not be avid gamers, based on the rise in online gaming traffic, its certain that a majority of the population around the world is drawn towards video games as their primary source of entertainment.

Dave McCarthy, VP for XBox Product services addressed the massive influx of players in his statement to the press stating:

“As people look to gaming for entertainment and social connections, we’re seeing record engagement across Xbox Game Pass, Xbox Live, and Mixer. We’re actively monitoring usage and making temporary adjustments as needed to ensure the smoothest possible experience for our gamers."