Published: Sun, October 28, 2018
Industry | By Dora Warner

It's an Epic deal: Fortnite maker scores $1.76 billion from investors

It's an Epic deal: Fortnite maker scores $1.76 billion from investors

Fortnite quickly became a cultural phenomenon after Epic Games made the title free to play and introduced the addictive "battle royale" mode, which lets 100 players compete to be the last person standing on an imaginary island. In 2012, it was valued at $825 million.

Epic Games is valued at nearly $15 billion as part of the new investment round, the Wall Street Journal on Friday, citing people familiar with the matter. It'll be exciting to see what Epic does next.

Epic Games Inc., the creator of the smash-hit videogame "Fortnite", is valued at nearly $15 billion as part of a major new investment round, according to people familiar with the matter.

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Epic, which sold a significant portion of the company to China-based Fortnite for $330 million, in 2013, disclosed the funding Friday.

Epic Games, the maker of top-selling videogame Fortnite, has raised $1.25 billion in new funding from investors including KKR, Iconiq Capital and Smash Ventures.

Sales from Fortnite are expected to reach $2 billion by the end of 2018.

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Epic, which counts Tencent, Walt Disney Co DIS.N and Endeavor among its minority shareholders, was estimated to be worth $4.5 billion by Jefferies analyst Tim O'Shea in May.

"We're excited to partner with the finest minds in the financial, sports, and entertainment communities".

In traditional Epic fashion, they're not even hinting about what plans for the future they might have.

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Its developer, Epic Games, secured the funding from private equity giant KKR.

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