Sony invests the $1 Billion Funding Round and invests $200 million in Epic Games
Sony and Epic Games are further strengthening their already close relationship as the japanese company invests another $200 million in a recent funding round. The latest $1 billion funding round has valued Epic Games at $28.7 billion.
It is less than a year that Sony has invested again in Epic Games. Epic Games recently announced that the japanese company has invested another $200 million as part of $1 billion. There were more than a dozen investors that took part in the funding round. This has now valued the Fortnite developer to a whopping $28.7 billion. A figure that even Epic Games didn’t expect is 10 billion more than the estimated value.
After the successful funding round, Epic Games’ controlling shareholder is still Tim Sweeney. In a press release soon after, Epic Games CEO Tim Sweeney said that the funds will be used to “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.”
Last year July, the japanese company invested $250 million in Epic Games and it is less than a year that Sony invested again. At the time of previous investment, the japanese company bought a 1.4 percent stake in Epic Games; this means that its value was $17.86 billion.
Sony CEO Kenichiro Yoshida shared his thought on the occasion, “Company is excited to strengthen our collaboration to bring new entertainment experiences to people around the world.”
Sony and Epic Games are going hand in hand, Epic Games has used the PS5 console to show the prowess of its next-gen Unreal Engine 5 gaming engine. Moreover, both Sony and Epic also collaborated on PS5’s storage architecture. Tim Sweeney said, “We’ve been working super close with the japanese company for quite a long time on storage.”
The interesting thing here is that this increase in valuation has happened amid Epic spending millions on free games and an ongoing legal feud with Apple.