The subsequent announcement confirmed a $1B raise at a $28.7B equity valuation and included an additional $200M investment from Sony, turning the report into a completed financing event rather than an exploratory fundraise.
First-order effects
Epic is positioned to add $1B of fresh capital while raising its implied valuation from $17.3B to roughly $28B, materially changing the financial scale at which investors assess the company.
The completed round brings Sony in for additional capital, extending its participation beyond the $250M included in Epic’s prior financing.
Second-order effects
A higher private valuation gives Epic a stronger benchmark for future fundraising and for any transactions involving its existing shareholders, whose sales featured in its 2018 round.
Sony’s follow-on investment makes Epic’s financing base more strategically concentrated around a major industry participant, rather than solely broad financial investors such as those cited in the 2020 fundraising discussions.
Third-order effects
Epic’s successive financings point to private-market capital rewarding companies that combine game properties, development technology and social products under one ownership structure.
If follow-on investments from strategic partners continue alongside large private rounds, major game-platform companies may rely less on a single source of capital and more on blended financial and industry backing.
The trend: Large private game-platform companies are attracting repeated capital rounds at rapidly rising valuations, with strategic investors joining institutional backers.
Epic's value has increased by $10 billion since Apple kicked Fortnite out of its App Store. https://twitter.com/...
@alex
@alex on x
would you rather have one (1) databricks or one (1) epic games — same valuation, give or take https://twitter.com/...
@markkleinmansky
Mark Kleinman on x
EXCLUSIVE: Epic Games, the owner of Fortnite and video chat app Houseparty, is close to concluding a $1bn fundraising that will value the company at $28bn (£20.2bn), underlining the privately held company's status as one of the pandemic's big winners. https://news.sky.com/...
@rsgnl
Joe Rossignol on x
This is what came to my mind for some reason when I saw that former Apple Maps executive Scott Forstall will be a witness in the Epic Games v. Apple trial
@realjoseph123
Joe on x
@markgurman I really can't understand that Epic Games criticizes the monopoly of Apple and Google while accepting investment from Tencent, the world's largest monopoly. I'll love to see them negotiate — It's time for both sides to grow up! 👌
@neilcybart
Neil Cybart on x
Apple's witness list for the upcoming Epic Games trial includes: Tim Cook Craig Federighi Phil Schiller Apple expects Phil Schiller to do most of the heavy lifting with 11 hours of direct examination / cross-examination. You can't say Apple is holding anything back.
@rsgnl
Joe Rossignol on x
Remember when the Apple Maps icon suggested making a sharp turn off a bridge on to the 280? https://twitter.com/...
@wsig
Will Sigmon on x
@rsgnl oh, so they found him?
@rjonesy
Ryan Jones on x
Do you realize how insane this Apple v Epic trial is going to be? 2 hrs of Tim Cook on the stand 3 hrs of Federighi 10 hrs of Schiller All in person. Starting May 3. https://www.macrumors.com/...
@fosspatents
Florian Mueller on x
Quote from me: „the summary of [@Susan_Athey's] opening opinion filed by Epic reveals Athey thinks that both developer and consumer would be better off with an independent multi-platform app store." #OpentheAppStore #EpicGames #Apple https://twitter.com/...
@rsgnl
Joe Rossignol on x
@WSig Apparently 😂
@dragonmaniayt
DragonMania on x
@iFireMonkey Damn epic coming in with the whole gang https://twitter.com/...
@cfellowearthlin
@cfellowearthlin on x
@DragonManiaYT @iFireMonkey Wow they've even got Facebook, a company that hates Apple because of it's strict privacy policy. I wonder why they would want an app store with no restrictions? Epic has no idea what kind of monster they will release.
@keleftheriou
Kosta Eleftheriou on x
“Other executives who may also take the stand include those in charge of combating fraud on the App Store” I have a *lot* of questions for these executives. https://www.bloomberg.com/...
@dylanmcd8
@dylanmcd8 on x
LOL they found him This is gonna be awkwardddddd https://twitter.com/...
@iconredesign
@iconredesign on x
The gang's back together everyone https://twitter.com/...
@markgurman
Mark Gurman on x
Apple CEO Tim Cook and software chief Craig Federighi are among the technology giant's top executives who may testify in its trial versus Epic Games, according to a new Apple witness list https://www.bloomberg.com/...