Fortnite News: Epic Games Gets $1.25 Billion Investment From Seven Firms
Epic Games are the brains behind the ultra-successful Unreal game engine and off late, their baby, Fortnite, has been a mega-blockbuster of a video game. Epic Games was launched by Tim Sweeney parent's house in Maryland. Over the years, it has emerged as a forerunner in the gaming industry.
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Today, Fortnite is one of the most played games across the globe. it has single-handedly disrupted the gaming industry and has made many questions as to where the future of video games now lie. Now, we can expect a lot more to come from their pocket given a $1.25 billion investment made by seven different firms. Announced on Friday, KKR, ICONIQ Capital, Smash Ventures, aXiomatic, Vulcan Capital, Kleiner Perkins, and Lightspeed Venture Partners are the companies that look to make a fortune with Epic Games.
The company said:
“(We are making) powerful partnerships with highly strategic investment firms and individuals at the forefront of technology, entertainment, professional sports, esports, and live events,”
Ted Oberwager of KKR had this to say:
“Epic Games has fundamentally changed the model for interactive entertainment under the company’s visionary leadership. Alongside a special group of investors, we are thrilled to support Epic’s dedicated employees and the passionate community of players and developers that lies at the heart of everything that Epic Games does.”
Speaking about this monumental achievement, Sweeney had the following to say:
“We’re excited to partner with the finest minds in the financial, sports, and entertainment communities. This reinforces Epic’s position of leadership in real-time 3D technology, and accelerates our ability to improve the way people play, work, and interact with the world."
It is worth noting that the seven investments are made in lieu with Tencent, Disney, and Endeavor as minority shareholders in Epic Games. In 2012, Tencent made an investment of $330 million. They also own 40% of the company.Published 28 Oct 2018, 19:59 IST