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Epic Games Announces $1 Billion Funding Round
Shortly after it's revealed that Epic likely won't make a profit until at least 2027, Epic Games announced that it completed a $1 billion round of funding, which will allow the company to support future growth opportunities. Epic's equity valuation now reaches close to $29 billion.
This round includes an additional $200M strategic investment from Sony Group Corporation, which builds on the already close relationship between the two companies and reinforces their shared mission to advance the state of the art in technology, entertainment, and socially-connected online services. Other investment partners include Appaloosa, Baillie Gifford, Fidelity Management & Research Company LLC, GIC, funds and accounts advised by T. Rowe Price Associates, Ontario Teachers' Pension Plan Board, funds and accounts managed by BlackRock, Park West, KKR, AllianceBernstein, Altimeter, Franklin Templeton and Luxor Capital. Epic continues to have only a single class of common stock outstanding and CEO Tim Sweeney remains the controlling shareholder of the company.
"We are grateful to our new and existing investors who support our vision for Epic and the Metaverse. Their investment will help accelerate our work around building connected social experiences in Fortnite, Rocket League and Fall Guys, while empowering game developers and creators with Unreal Engine, Epic Online Services and the Epic Games Store," said Tim Sweeney, CEO and Founder, Epic Games.
"Epic continues to deliver revolutionary experiences through their array of cutting edge technologies that support creators in gaming and across the digital entertainment industry. We are excited to strengthen our collaboration to bring new entertainment experiences to people around the world. I strongly believe that this aligns with our purpose to fill the world with emotion, through the power of creativity and technology," said Kenichiro Yoshida, Chairman, President and CEO, Sony Group Corporation.
Credit Suisse and BoFA Securities acted as joint placement agents to Epic, and Wilson Sonsini Goodrich & Rosati provided legal counsel to Epic.
Free to grab: HITMAN 3 Starter Pack at Epic Games - 03/31/2021 08:46 AM
Become Agent 47 and experience the start of the World of Assassination trilogy for FREE. Begin your journey as an initiate and meet your handler at the training facility to become an Agent of the ICA....
Free to grab: Surviving Mars at Epic Game Store - 03/12/2021 08:24 AM
Well, nothing beats free of course. Welcome Home! The time has come to stake your claim on the Red Planet and build the first functioning human colonies on Mars!...
Free to grab: Wargame Red Dragon on Epic Games Store - 03/05/2021 10:05 AM
The Wargame series returns to duty, larger, richer and more spectacular than ever before. In Wargame Red Dragon, you are engaged in a large-scale conflict where Western forces clash against the Commun...
Epic Games settles Fortnite and Rocket League lootboxes - 02/24/2021 09:33 AM
Epic Games settled a lawsuit over lootboxes in Fortnite and Rocket League. All US players of the games who have purchased lootboxes can receive compensation, both cash and in-game content...
Free to grab: Rage 2 on EPIC Game Store - 02/19/2021 08:34 AM
Dive headfirst into a dystopian world devoid of society, law, and order. RAGE 2 brings together two studio powerhouses–Avalanche Studios, masters of open world insanity, and id Software, creators of...
fantaskarsef
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Posts: 14326
Joined: 2014-07-21
#5905239 Posted on: 04/16/2021 11:34 AM
Store burns money.
Unreal engine earns money.
Company was valued at 1/3 less than a year ago, where did the 10 billion jump come from (valued at less than 20b in June)?
Honestly, I think companies going in now just wait for the public IPO (aimed at by Epic in 2022), so that poor small cap investors see that the invested 1 billion rise in share price to probably 1.2 or something via stock prices like that.
And that's actually a tough gamble, since those companies will want their money's worth returned with a profit eventually.
Store burns money.
Unreal engine earns money.
Company was valued at 1/3 less than a year ago, where did the 10 billion jump come from (valued at less than 20b in June)?
Honestly, I think companies going in now just wait for the public IPO (aimed at by Epic in 2022), so that poor small cap investors see that the invested 1 billion rise in share price to probably 1.2 or something via stock prices like that.
And that's actually a tough gamble, since those companies will want their money's worth returned with a profit eventually.
vestibule
Senior Member
Posts: 1288
Joined: 2014-04-21
Senior Member
Posts: 1288
Joined: 2014-04-21
#5905338 Posted on: 04/16/2021 06:27 PM
So what is the main reason Unreal is losing 100M+ per year and Why?
So what is the main reason Unreal is losing 100M+ per year and Why?
Venix
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Joined: 2016-08-01
Senior Member
Posts: 3002
Joined: 2016-08-01
#5905662 Posted on: 04/18/2021 05:52 AM
Is not unreal but the epicstore with the free games and exclusivity deals that bleeds money.
So what is the main reason Unreal is losing 100M+ per year and Why?
Is not unreal but the epicstore with the free games and exclusivity deals that bleeds money.
vestibule
Senior Member
Posts: 1288
Joined: 2014-04-21
Senior Member
Posts: 1288
Joined: 2014-04-21
#5905709 Posted on: 04/18/2021 02:32 PM
TY Buddylicious.
Is not unreal but the epicstore with the free games and exclusivity deals that bleeds money.
TY Buddylicious.
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They are already getting paid. Nobody works for free at Epic or any other corporation.