Epic Games Receives $2B Investment from Sony & KIRKBI

Sony and KIRKBI have each invested $1B in Epic Games to “advance the company’s vision to build the metaverse and support its continued growth”. 

The North Carolina-based developer, known best for the hit game Fortnite, released a statement regarding the investment. This latest development follows The LEGO Group’s partnership with Epic Games to build a child-friendly environment in the metaverse. 

KIRKBI, the company controlling The LEGO Group, doubled down its partnership with an additional $1B USD toward Epic Games. Sony matched that investment in the interest of the developer’s effort to expand the metaverse. A growing trend in online gaming and experiences. 

KIRKBI & Sony Comment on the Investment

Announcing a $2 billion funding round with Sony and KIRKBI to build the future of digital entertainment. https://t.co/V0bcFftNkg

— Epic Games Newsroom (@EpicNewsroom) April 11, 2022

Epic’s brand of metaverse has grown significantly from within Fortnite Battle Royale. The developers have found a way to produce unique in-game events. Fortnite hosted concerts featuring pop singer Ariana Grande, rap artist Travis Scott and Marshmello. Moreover, Epic Games has collaborated with high-profile celebrities, artists, and athletes in its Icon Series, which players can represent in-game. 

Kenichiro Yoshida, Sony’s CEO, Chairman and President, provided a quote regarding this monumental contribution:

“As a creative entertainment company, we are thrilled to invest in Epic to deepen our relationship in the metaverse field. A space where creators and users share their time. We are also confident that Epic’s expertise, including their powerful game engine, combined with Sony’s technologies, will accelerate our various efforts. Such as the development of new digital fan experiences in sports and our virtual production initiatives.”

KIRKBI CEO Søren Thorup Sørensen echoed a similar sentiment:

“ A proportion of our investments is focused on trends we believe will impact the future world that we and our children will live in. This investment will accelerate our engagement in the world of digital play. We are pleased to be investing in Epic Games to support their continued growth journey, with a long-term focus toward the future metaverse.”

Tim Sweeney, majority stakeholder and founder of Epic Games, rounded out the announcement with a comment:

“As we reimagine the future of entertainment and play, we need partners who share our vision. We have found this in our partnership with Sony and KIRKBI. 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.”

Epic recently acquired several independent companies, including music streaming service Bandcamp and game developers Mediatonic and Harmonix. Epic Games revealed Unreal Engine 5.0 last week. Something that could factor heavily into the metaverse expansion. The company's post-money equity valuation is $31.5B USD.

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