Last updated on December 8th, 2022 at 03:13 pm
Rumors: Epic Games plans to raise $ 1.7 billion from investors – some of the money will probably go to lawyers
Epic Games is in talks to raise $ 1.7 billion, double its last year. According to Bloomberg sources familiar with the discussion, its business value is estimated at $ 28 billion.
The company has already committed more than $ 1 billion in commitments, and the final amount has yet to be determined. The capital comes primarily from mutual funds and other large institutional investors, many of whom are already sponsors, sources said. Some of the money will most likely go to pay for the work of lawyers. Epic Games is waging legal battles with Apple and Google over allegations of their anti-competitive behavior, demanding a reduction in the share of transactions through its app stores.
An Epic Games spokesman declined to comment to Bloomberg. But the deal was also previously reported by Sky News.
Over the past few years, the company has started raising funds at an incredible rate, fueled by the growth of Fortnite. Epic Games said last August that it received $ 1.78 billion in a valuation of $ 17.3 billion. The company has acquired several established startups, including the creators of the hit game Fall Guys: Ultimate Knockout.
