Epic Games, which publishes popular video game "Fortnite," is valued at almost $15B as part of a "major new investment round," according to sources cited by Needleman & Roof of the WALL STREET JOURNAL. The company on Friday announced that "investors have purchased" $1.25B in stock . Epic said that the investors represent "people at the forefront of competitive gaming and live gaming events, areas that have elevated the industry’s visibility." Contributors to the round include "traditional investment firms" KKR, Kleiner Perkins and Lightspeed Venture Partners, as well as aXiomatic, which "owns the competitive-videogaming organization Team Liquid." Epic also "already counts" China’s Tencent Holdings and Disney as investors. "Fortnite" as of June "had attracted more than 125 million players," according to Epic. The company is now "eyeing a deeper move" into esports; Epic recently pledged $100M in "Fortnite" tournament prizes ( WALL STREET JOURNAL, 10/27 ). Warriors co-Owner Peter Guber, who co-founded aXiomatic, said, "We’re in the sports business, period. It’s rare that you have the chance to help shape an industry that represents a sea change in the larger enterprise of sports -- we chose to be a part of it" ( L.A. TIMES, 10/27 ). In N.Y., Michael de la Merced noted behind the investment is the "hope that Fortnite will remain a global phenomenon." The investment "comes with risks," among them being "how much longer Fortnite will remain a phenomenon" ( N.Y. TIMES, 10/27 ).
Epic Games Valued At Nearly $15B After Latest Funding Round
