Epic Games Reportedly Fundraising Above $15 Billion Mark
Epic Games held talks to raise funding above its previous valuation, which was set at $15 billion, according to a report published Tuesday by Bloomberg.
The exact valuation the company seeks is unknown, but Bloomberg's anonymous sources with knowledge of the situation claimed it would be higher than $15 billion.
Epic Games, the maker of Fortnite, has held talks to raise a new round of funding valuing it above its last valuation of $15 billion https://t.co/yEP8Piu6Wd
— Bloomberg (@business) April 22, 2020
Epic Games Reportedly Fundraising Above $15 Billion Mark
The company has hired a financial adviser to help with the fundraising, according to same sources. One individual source claimed the company discussed raising between $500 million and $1 billion. The plans remain in flux.
Epic Games declined to comment on the Bloomberg story.
Epic Games is known primarily as the developer and publisher of Fortnite, which is set to begin Chapter 2 Season 3 on June 4. It also owns both the Unreal Engine, licensing of which generates significant revenue, and the Houseparty video chatting app that has seen a major rise in popularity during the coronavirus (COVID-19) pandemic.