Why does Epic Games need $1 Billion?
Epic Games has more money than they know what to do with. So, why do they all of a sudden need almost $1 billion?
Epic Games, the developer of Battle Royal game, Fortnite, has been fundraising on a 15 billion dollar valuation. The news comes in addition to the news that Fortnite is now available on the Google Play Store. The update comes after months of beef between the two companies.
As of right now, Epic has hired a specialist financial adviser to manage the project, there is no word on who that might be. They are seeking funds of $500 million – $1 billion. Moreover, there is no information about what project the fundraising could be towards, but the possibilities are limited.
In addition to Fortnite, the Epic Games Store, and numerous other titles. Epic owns the Unreal Engine, which is one of the most popular engines for independent and big developers alike.
Houseparty, the number 1 social media app on the App Store, is also owned by Epic. While this may come as a shocker to some because it is not something that would be an asset to a game development company. Houseparty has been a massive success, though, especially in times of Coronavirus.
As far as predictions of what the fundraising is for, it could go multiple ways.Epic is most likely fundraising to start a big Esports league for their hit title, Fortnite. As Valorant becomes more popular by the second, Fortnite is losing fans fast. Players and streamers are complaining about Epic’s lack of care and effort for the game, but they have not done much to respond to this.
On the other hand, they may be fundraising for a different purpose. With Fortnite in its third year of operation, it is possible that Epic is making a new game, or it could be in it’s final stage of development. The funding could be towards advertisement or an Esports league for the original game.
We will find out more about what the fundraising is for as more information is revealed by Epic to stay tuned for updates, Subscribe to our newsletter below and follow us on Social Media (@disclosedgamer).
Sources; Business Insider, Bloomberg,
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