![]() ![]() ![]() KIRKBI and Sony each invested 1B at a 31.5B post-money equity valuation. The tech giant typically takes a 15% to 30% cut from all in-app purchases. Game studio and software firm Epic Games announced it raised 2B from KIRKBI, LEGOs holding company, and Sony. ![]() Last year, a judge ruled that Apple can no longer prevent developers from directing users away from Apple's own payment system. On Monday, Epic Games announced it has received 2 billion in investments from Sony. Epic was previously valued at 28.7 billion from a 1 billion funding round in April 2021, which included 200 million from Sony. The new funding bumped Epic’s valuation to 31.5 billion. The company has been at the center of a heated dispute between app developers and Apple over the latter's App Store fees. Ap8:03 pm ET Sony is investing 1 billion into Epic Games, the publisher behind Fortnite. The Fortnite maker raised 2 billion, split evenly between Sony and Kirkbi, owner of The Lego Group. The company developed Unreal Engine, one of the biggest platforms used to create games, and operates its own online games store which competes with Microsoft and Valve. While it's best known as the company behind Fortnite, Epic Games is a video game powerhouse. We have found this in our partnership with Sony and KIRKBI," Sweeney said in a statement. Sony and Lego owner Kirkbi each invested US1 billion into Epic, bringing its valuation to US31.5 billion The game developer is waging a costly legal battle against Apple and Google over the. "As we reimagine the future of entertainment and play we need partners who share our vision. Fortnite developer Epic Games has raised 2 billion from Sony Group, and the Kirkbi investment company that owns the Lego Group, taking the company’s value to 31.5 billion, Reuters is reporting. Roblox, meanwhile, wants to build a metaverse where millions of people can gather to play games or even work in a virtual economy fueled by Robux, its own in-app currency.Įpic Games CEO Tim Sweeney said the fresh funds would help the company "accelerate our work to build the metaverse." Epic Games has raised 2 billion in funding from Sony Group Corporation and Kirkbi, the holding and investment company of the Lego group, the Fortnite franchise creator has said. But it's been branching out into other forms of entertainment, hosting music concerts from artists like Travis Scott and Marshmello, for example. Sony’s investment comes after it contributed 450 million to the firm’s July 2020 and April 2021. Sony and LEGO owner KIRKBI both invested 1 billion in the raise. Personal Loans for 670 Credit Score or LowerĮpic's battle royale game Fortnite lets up to 100 players fight it out to be the last one standing. The gaming company behind the battle royale hit Fortnite announced it had completed a 2 billion raise Monday, putting the firm’s post-money equity valuation at 31.5 billion. Personal Loans for 580 Credit Score or Lower The funding means that Epic is now valued at 31.5 billion, after Sony and Kirkbi A/S, the holding company of the Kirk Kristiansen family, put in 1 billion apiece, according to a statement. Best Debt Consolidation Loans for Bad Credit ![]()
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