Gaming Company Epic Games Secures $1.25Bn from KKR, others
Epic Games, the company that created video game sensation "Fortnite" has secured funds amounting to $1.25 billion in funding from investors, including KKR & Co, Iconiq Capital and Smash Ventures.
"Fortnite," a sort of hybrid of "The Hunger Games" and "Minecraft," drops 100 people onto an island to fight each other for survival.
It is a tactical tournament game, whose first version was released in 2017. The game has been called an industry "game-changer" by analysts as it signed up tens of millions of users for its last-player-standing "Battle Royale" format.
According to the reports of the Wall Street Journal, Epic Games has been valued at almost $15 billion after the new investment round. The company counts Tencent, Walt Disney and Endeavor among its minority shareholders, was esti...