Epic Secures $1 Billion In Funding, With Sony One Of Many Investors

Jason Winter
By Jason Winter, News Editor
Share:

Epic Games is burning through a lot of money, so naturally, it needs to bring in more. The company announced yesterday that it had raised $1 billion in funding, including $200 million from Sony, "which builds on the already close relationship between the two companies and reinforces their shared mission to advance the state of the art in technology, entertainment, and socially-connected online services."

Other companies involved in the funding include some names you might be familiar with, such as Fidelity Management & Research, Franklin Templeton, T. Rowe Price Associates -- and, oddly, the Ontario Teachers' Pension Plan Board. I know online teaching is a bigger deal now, but are they planning to conduct their classes in Fortnite? "Billy, stop headshotting Johnny and pay attention!"

Epic CEO Tim Sweeney, who remains the controlling shareholder of the company, said that the "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." Epic's ongoing legal battle with Apple was not mentioned by name, though it could fall under the auspices of "empowering game developers and creators."

The funding raised Epic's equity valuation to $28.7 billion, so burning through a few hundred million in a legal conflict is perhaps not really all that notable. Still, investments like this will help keep the ledger at least somewhat more balanced, while also making sure that Epic has even more resources to attract exclusives to its platform.

Share:
Got a news tip? Contact us directly here!

About the Author

Jason Winter
Jason Winter, News Editor
Jason Winter is a veteran gaming journalist, he brings a wide range of experience to MMOBomb, including two years with Beckett Media where he served as the editor of the leading gaming magazine Massive Online Gamer. He has also written professionally for several gaming websites.

Discussion (1)

rickshaw 1 year ago
Epics a cool pipeline that returns favor to its consumer. others in the game just keep blowing there upwards not giving back anything..


Read Next

Italian Battleships And German Destroyers Highlight World Of Warships' 0.10.3 Update

Italian Battleships And German Destroyers Highlight World Of Warships' 0.10.3 Update

World of Warships' April update, 0.10.3, adds Italian battleships for everyone to research, following their early access testing period.

By Jason Winter - 1 year ago

You May Enjoy

The Day Before Delayed And Steam Blocked After A Mysterious "Private Individual" Registered The Game's Trademark

The Day Before Delayed And Steam Blocked After A Mysterious "Private Individual" Registered The Game's Trademark

This throws a wrench into Fntastic's plans to release raw footage announced for this month.

By Anthony Jones - 1 week ago
Cozy Comfy Multiplayer: What Ever Happened To Coke Music?

đź’Ł Feature | Cozy Comfy Multiplayer: What Ever Happened To Coke Music?

The popular music mixer MMO by Coca-Cola seemed to vanish overnight.

By Aspen Pash - 1 week ago
Go Figure, Someone’s Leaked The Final Phase Of FFXIV's The Omega Protocol Ultimate

Go Figure, Someone’s Leaked The Final Phase Of FFXIV's The Omega Protocol Ultimate

The World’s First Race just got a lot faster.

By QuintLyn Bowers - 1 week ago
Apex Legends Rings In The Chinese New Year With The Celestial Sunrise Collection

Apex Legends Rings In The Chinese New Year With The Celestial Sunrise Collection

Players can start collecting the limited-time Legendary skins today!

By Aspen Pash - 1 week ago
Broken Ranks' First Anniversary Celebration Begins Today, And Players Get Some Free Premium Time

Broken Ranks' First Anniversary Celebration Begins Today, And Players Get Some Free Premium Time

There’s also an art contest and in-game events.

By QuintLyn Bowers - 1 week ago
Yoshi-P: If Investigations Show Mods Used In FFXIV Ultimate Clear, "I Will Not Recognize That Team As True World First"

Yoshi-P: If Investigations Show Mods Used In FFXIV Ultimate Clear, "I Will Not Recognize That Team As True World First"

From mods in Ultimate, to leaked footage, to punishments, Yoshi-P isn't happy.

By Michael Byrne - 4 days ago