Epic Games, publisher and developer of Fortnite, received a new $ 750 million investment. The company’s post-investment value has increased from $ 16.3 billion to $ 17 billion.
Epic Games, the producer and publisher of Fortnite, one of the most popular ‘Battle Royale’ games today, has increased its value by another $ 750 million. According to the news in Venture Beat, the pre-investment value of the company was $ 16.3 billion, while its post-investment value rose to $ 17 billion.
Epic Games, the publisher and developer of Fortnite, which has more than 350 million players, is also the creator of Unreal Engine, a game engine that is very popular in the game world.
New investors of Epic Games:
According to the information revealed, Epic Games’ new investors were T. Rowe Price Group and Baillie Gifford. Since the company was relatively closed in terms of Epic Games revenue and profit, the new agreement also allowed an overview of the company’s financial situation.
Epic Games announced that it earned a total of $ 4.2 billion in revenue in 2019, and its profits were $ 730 million before dividends, taxes and depreciation expenses were deducted. By 2020, these figures were expected to be $ 5 billion and $ 1 billion, respectively.
According to the information conveyed by a source within the sector, Fortnite’s revenue reached 400 million dollars only in April with the effect of the epidemic. Epic Games announced in April that the players spent 3.2 billion hours in the game. Also, the virtual Travis Scott concert held in Fortnite gathered more than 27 million people.
Epic Games had a better performance in 2018 than in 2019. The company announced it had earned $ 5.6 billion in revenue in 2018. Of course, we should remind you that Epic Games, 40% of which was acquired by Tencent in 2012, has made huge investments in the Epic Games Store, increased its Fortnite and Unreal Engine personnel and made some purchases.