Epic Raises $2 Billion at $32 Billion Valuation

Epic is an interactive entertainment company developing games as well as game engine technology which is offered to other developers. Besides, the company operates a game store to enable other games developers, to build up interactive, high-fidelity experiences for console, PC, mobile, and virtual reality.

Sony and Kirkbi participated in the funding round with an investment of $1 billion from each company. The money will be used for the kid-friendly metaverse development (for which Epic is partnering with Lego), and to keep the current growth. The kid-friendly project aims to make metaverse fun and safe for children.

Epic, North Carolina, the USA, was founded by Mark Rein and Tim Sweeney in 1991. Among the company’s backers are Appaloosa, Baillie Gifford, Fidelity Management & Research Company LLC, GIC, T. Rowe Price Associates-managed accounts, etc. “This investment will accelerate our work to build the metaverse and create spaces where players can have fun with friends, brands can build creative and immersive experiences and creators can build a community and thrive,” said Tim Sweeney, the CEO and founder of Epic Games. Within the project of kid-friendly metauniverse creation, the well-being and safety of the children will be a priority, besides it is important to provide children and their parents with tools to control their digital experience.

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