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Guru3D.com » News » Epic Games Announces $1 Billion Funding Round

Epic Games Announces $1 Billion Funding Round

by Hilbert Hagedoorn on: 04/15/2021 04:50 PM | source: | 14 comment(s)
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.







« PowerColor Offers Radeon RX 6900 XT Liquid Devil Ultimate and Red Devil Ultimate · Epic Games Announces $1 Billion Funding Round · NVIDIA to replace RTX 3060 GPU with GA106-302 chip to suppress ETH mining »

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kakiharaFRS
Senior Member



Posts: 952
Joined: 2015-11-21

#5905179 Posted on: 04/16/2021 07:08 AM
companies are really investing billions in a company that loses 100+million per year ?
and that only exist because it was heavily funded by a chinese company aka "at a loss" by the ccp ? (tencent owns 48% of the company, ask Jack Ma who was "disappeared" for 3 months if a chinese company has "free will")
looks like a Ponzi scheme to me

RealNC
Senior Member



Posts: 3938
Joined: 2011-11-24

#5905214 Posted on: 04/16/2021 09:19 AM
companies are really investing billions in a company that loses 100+million per year ?

That's what AMD was doing for like, decades? :P

Black_ice_Spain
Senior Member



Posts: 4584
Joined: 2008-05-08

#5905215 Posted on: 04/16/2021 09:21 AM
That's what AMD was doing for like, decades? :p

yeah but Intel needed AMD so anti-monopoly goverment units wouldnt hit them, call it an investment

nicugoalkeper
Senior Member



Posts: 912
Joined: 2006-04-13

#5905216 Posted on: 04/16/2021 09:25 AM
Sony is investing in Unreal Engine so yes they need to invest...

gx-x
Senior Member



Posts: 1521
Joined: 2007-03-18

#5905235 Posted on: 04/16/2021 11:18 AM
Sony is investing in Unreal Engine so yes they need to invest...

and you think Epic is going to put all that money into paying devs working on Unreal Engine, and no just waste it on their store to buy games and loose more money.
We shall see.

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