. The company sets a new deal-making record in video game industry
Epic Games, the company behind Fortnite, the video game have hit a very positive business deal. Now, the creators of the runaway gaming smash hit have raised $1.25 billon USD in a new round of financing. It is the highest that a video gaming company has ever made up until now.
With the new investment created, it is evident Epic Games’ new investors will join Disney, Tencent, and Endeavor as minority stakeholders in the video gaming firm.
Already, Fortnite has become the most popular video game in the world. There are nearly 80 million players from all over the world playing the game each month.
To further tell about the success story of the company, Epic game’s design software suite, known as Unreal Engine, has been used by many developers to create hundreds of games since 2001 till date.
Epic, a company that is determined to continue creating development software for use by major game studios and indie developers as well, revealed with a press release that the new investors include KKR, ICONIQ Capital, Smash Ventures, aXiomatic, Vulcan capital, Kleiner Perkins, and Lightspeed Venture Partners.
The above-named new investors will join Disney, Tencent, and Endeavor as minority stakeholders. Epic Founder and CEO Tim Sweeney, who will continue in that capacity has revealed in a press release that Epic is “excited to partner with the finest minds in the financial, sports, and entertainment communities. This reinforces the company’s position of leadership in real-time 3D technology, and accelerates Epic’s ability to improve the way people play, work, and interact with the world.
He emphasized that Fortnite will continue to see growing success, celebrating 80 million players during August 2018. Fortnite’s popularity has led to deals with Samsung, Nerf and Hasbro. Even Sony changed its policy for cross-platform play.
Anyone can play Fortnite because it is free on the vast majority of gaming portals. The company earns revenue through micro-transactions. In May 2018, the game reached a monthly record of $318 million USD in revenue. Epic has been committed to making sure the community for Fortnite will invest $100 million in esports.