Epic Games reaches $28.7 bn valuation after the latest funding round
By MYBRANDBOOK
Epic Games has announced that it has raised $1 billion in a new funding round that valued the company at $28.7 billion.
The company has also said that apart from $1 billion it had received $200 million more from minority shareholder Sony Group Corp, while it also raised funds from investors such as Appaloosa, Baillie Gifford, and KKR & Co Inc.
Epic Chief Executive Officer Tim Sweeney will remain the controlling shareholder of the company after the latest investments.
"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," Sweeney said.
In 2017, Epic launched free-to-play battle-royal videogame "Fortnite" and since then gathered considerable following among young gamers. The company has more than 160 million users on its PC store, according to its website.
Epic last year received a $250 million investment from Sony, and it raised $1.25 billion in funding in 2018 from investors including KKR.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
ICONS OF INDIA : RAJIV MEMANI
As Chair of the EY Global Emerging Markets Committee, Rajiv connects e...
Icons Of India : Anil Kumar Lahoti
Anil Kumar Lahoti, Chairman, Telecom Regulatory Authority of India (TR...
Icons Of India : Girish Mathrubootham
Girish Mathrubootham is the Founder of Freshworks (previously known ...
NIC - National Informatics Centre
NIC serves as the primary IT solutions provider for the government of ...
GeM - Government e Marketplace
GeM is to facilitate the procurement of goods and services by various ...
GSTN - Goods and Services Tax Network
GSTN provides shared IT infrastructure and service to both central and...
Indian Tech Talent Excelling The Tech World - Dheeraj Pandey, CEO, DevRev
Dheeraj Pandey, Co-founder and CEO at DevRev , has a remarkable journe...
Indian Tech Talent Excelling The Tech World - Sanjay Mehrotra, CEO- Micron Technology
Sanjay Mehrotra, the President and CEO of Micron Technology, is at the...
Indian Tech Talent Excelling The Tech World - Lal Karsanbhai, President & CEO, Emerson
Lal Karsanbhai, President and CEO of Emerson, assumed the leadership i...