IT’s fair to say that Epic Games has had an epic couple of years.
It’s incredible success and growth could all easily be put down to a little free-to-play game called Fortnite.
The gaming company just announced that it has finalised a $1.25 billion investment deal with a number of private companies, including KKR, ICONIQ Capital, Smash Ventures, aXiomatic Gaming, Vulcan Capital, Kleiner Perkins and Lightspeed Venture Partners, which are now the newest minority shareholders in the company.
The Wall Street Journal reported this week that the deal values Epic Games at $15 billion, while the overall sales for Fortnite could top $4 billion for 2018.
Epic Games founder and chief executive officer, Tim Sweeney, was as enthusiastic as most in the industry would expect after such big news. He said the new investors would help Epic maintain its position as a leader in real-time 3D technology and would accelerate the way people play, work and interact with the world.
Epic Games was founded by Sweeney all the way back in 1991 in his parent’s basement — don’t tell us nothing good can come from geeks and basements.
In 2012, 40 percent of Epic was sold to the Chinese internet company Tencent Holdings which has since led to more partnerships.
After Fortnite was launched in 2017, the game quickly became a cultural phenomenon when the battle royale mode was added.