Fortnite Creator Epic Games Is Now Valued Over $29 Billion
Epic Games has recently announced that it had raised over $1 Billion in its latest funding round which rounded its valuation to over $29 Billion.
Epic’s game engine is in the midst of a dispute with Apple over its Unreal Engine, which could prevent Epic from updating it and stunt the company’s controversy against Apple. In addition to the Unreal Engine, Epic Games’ parent company owns 8% of Unity, the developer of Fortnite, and will also own 24% of the game until August 2020. Unity produces its games in partnership with Epic, so there is a conflict of interest between the developers. Although Unity CEO John Riccitiello told CNN Business in February that he doesn’t see Epic as a competitor, Unity Software is the maker of the Unreal Engine for Epic Games and its maker Epic Game is one of the competitors. Epic and Apple have been fueling each other in recent months, with the controversy between the companies over Apple’s patent infringement lawsuit against Epic over the engine escalating.
American game developer and publisher, who had great success with his Unreal Engine and developed popular games like Fortnite, Gears of War, and Unreal. Epic Games has also found that the Unreal engine for developing video games is one of the most popular game engines in the world. The original games on the Epic Engine have been redesigned to run on a variety of platforms including the PlayStation 4, Xbox One, and PlayStation 3. Tencent’s crown jewel, however, is its new investment in Epic, which is owned by the parent company Epic Game.
The Unreal Engine is Epic’s building software, which serves its needs as a game developer, but also distributes it to third-party developers and publishes it to a wider market. Epic provides its Game Engine and other software tools to developers or creators to develop, distribute and operate games or other content. It has developed games like Fortnite, Gears of War, and many others, as well as other popular games like Overwatch and League of Legends.
Great Fortnite players can make a lot of money playing the game through approved contests under the control of Epic Games. The company is putting prize money into these competitions to encourage its players to spend more time playing games. Epic has used this money to invest in its Epic Game Store and expand its workforce following the acquisitions of Fortnite and Unreal Engine.