Epic Games nearly doubles its valuation in 2 years

Unreal Engine 5 and Fortnite king Epic Games passes a new funding round to raise its valuation to tens of billions of dollars.

Published Mon, Apr 11 2022 1:55 PM CDT   |   Updated Tue, May 3 2022 12:35 PM CDT

Epic Games raised $2 billion in its latest funding round, pushing its total valuation to tens of billions.

Epic Games nearly doubles its valuation in 2 years 555 | TweakTown.com

Sony and LEGO's parent company have just made a combined $2 billion investment into Epic Games to help propel the metaverse and fuel Unreal Engine 5. Following this significant finance injection, Epic Games now has a valuation of $31.5 billion--nearly double what it was worth two years ago. Epic Games said its valuation was roughly $17 billion back in 2020 (Epic was also worth $15 billion in 2018).

The latest multi-billion investment round reflects Epic's unique ambitions with two entertainment titans. Sony in particular has a vested interest in Epic's success because many of its digital entertainment operating units make use of Unreal Engine, which is used in production of games, films, and TV shows. Sony has been ramping up its PlayStation Productions segment to produce adaptations of key gaming IPs like Uncharted, with major TV shows based on The Last of Us and Twisted Metal currently in the works.

LEGO also signed a strategic partnership with Epic Games to help define the nascent metaverse, promising a family-friendly digital environment that's safe for children.

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NEWS SOURCE:epicgames.com

Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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