Appaloosa Management: Epic Games Closes $1B Financing Round, Sony Increases Investment to $450M

Fortnite developer Epic Games announced that it has completed a $1B USD financing round bringing the company's equity valuation to $28.7B. Its latest investment round includes an additional $200M strategic investment from Sony Group Corporation. Following the financing round, Epic Games' CEO Tim Sweeney remains the controlling shareholder of the company. Further investors that participated in the investment include Appaloosa, Baillie Gifford, Fidelity Management & Research Company [...] The post Epic Games Closes $1B Financing Round, Sony Increases Investment to $450M first appeared on The Esports Observer.