Epic nets $1 billion in funding, together with $200 million funding from Sony


Epic Video games has secured $1 billion in funding to help its “long-term imaginative and prescient for the metaverse.”

Notably, the spherical locations Epic’s fairness valuation at $28.7 billion and features a $200 million strategic funding from Sony, which final 12 months bought a minority stake within the Fortnite developer for $250 million

Epic founder and CEO Tim Sweeney mentioned the money will permit the corporate to “speed up” its work round creating social experiences in Fortnite, Rocket League, and Fall Guys, whereas persevering with to develop the Epic Video games Retailer, Unreal Engine, and Epic On-line Providers. 

That sentiment was echoed by Sony chairman, president, and CEO Kenichiro Yoshida, who mentioned the PlayStation maker was excited to strengthen its collaboration with Epic with a view to bringing “new leisure experiences to folks all over the world.”

The information comes as Epic prepares to duke it out with Apple in courtroom over the iPhone maker’s choice to take away Fortnite from the App Retailer. The 2 corporations are because of head to trial on Could 3, and lately submitted courtroom paperwork that present the eye-watering price of working the Epic Video games Retailer.

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