Epic Games has announced today that they have received $1.78 billion round of funding, with Epic Games now being valued at an eye-watering $17.3 billion.
Those who invested in Epic Games include a whole bunch of different companies and people. These include Sony Corporation, (with it's previous $250 million investment added onto this current investment), "Baillie Gifford, funds and accounts managed by BlackRock, Fidelity Management & Research Company LLC, Lightspeed Venture Partners, Ontario Teachers’ Pension Plan Board, funds and accounts advised by T. Rowe Price Associates, Inc., and David Tepper." Some who already invested in Epic Games, such as KKR and Smash Ventures further added onto their investment.
Tim Sweeney, the founder and CEO of Epic Games will remain in control of the studio:
“Having the support of leaders in the financial community accelerates Epic’s efforts to build a new kind of digital ecosystem using real-time 3D technology, services that connect hundreds of millions of people, and a digital storefront that offers a fair business model. We are delighted to have them as part of the Epic family,” said Sweeney.
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Wow. That's a lot of money. I remember the days that Epic Games was struggling to make ends meet, and now they are one of the biggest corporations on the planet. It's funny what one thing (or video game, in this instance) can do to change the fortunes of one company. That doesn't mean that the gravy train will run on forever, though, so to see they are diversifying their portfolio through things such as the Epic Games Store is nice to see, even if we all wish that Epic added more of, well, everything to it. They did add achievements in the last week, so we're slowly getting there. We'll see.
What do you think of this news? Are you surprised that Epic Games is worth so much? Let us know in the comments!