Fortnite keeps breaking records and generates incredible revenue every month. But now reports emerged that developer Epic Games is searching for new investors.
Epic Games established themselves as one of the biggest video game publishers in the entire world. According to Bloomberg, Epic Games value is supposed to be significantly higher than $15 billion.
Fundraising for a Multibillion Dollar Company
Despite the staggering amount of assets the publisher seems to have plans that require even more. Epic Games is reported to plan a new round of funding with $500 million to $1 billion as target. At least according to an anonymous person who told the news site Bloomberg. However there is no further information on why the company is in need for new investors.
In 2018 the company already successfully collected $1,25 billion – which was the second largest investment in game industry history, according to an article on venturebeats. The only other instance that surpassed this monumental number was South Korean mobile game developer Netmarble. They collected $2,3 billion in 2017 via IPO (initial public offering) to create a mobile game centered around the K-Pop group BTS.
A Billion Dollar Investment into Fortnite?
While most people associate Epic Games with Fortnite, the company has a wide variety of products. Most notably the Unreal Engine, which to this day forms the backbone of hundreds of video games. Another more prominent example is the mobile app Houseparty. It allows video chatting while playing trivia games or other interactions. Especially in the current situation of the COVID19-pandemic the app has seen a surge in popularity.
Whether the raised money will go to Fortnite or another of the current products of Epic Games or not is for now still unclear. But with a sum as high as a billion it seems more likely to be an investment spread out to multiple projects within Epic Games. But maybe the developer is also venturing into new uncharted territory and developing a new product.
Considering how industry rival Riot Games has recently launched a barrage of new titles with Legends of Runeterra, Teamfight Tactics and VALORANT, Epic might be surprising us all with a larger announcement to come.
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