News Sony Group Corporation invests another $200 million in Epic Games

[Sir Guts]

Epic Games has completed a $1 billion round of funding that will allow the company to support future growth opportunities, including an additional $200 million strategic investment from Sony Group Corporation, the company announced.

Epic Games:

[The investment] builds on the already close relationship between the two companies and reinforces their shared mission to advance the state of the art in technology, entertainment, and socially-connected online services

Sony Group Corporation previously invested $250 million in Epic Games back in July 2020 to acquire a minority stake in the company.

Epic Games CEO and founder Tim Sweeny said in a statement:

We are grateful to our new and existing investors who support our vision for Epic and the Metaverse. Their investment will help accelerate our work around building connected social experiences in Fortnite, Rocket League, and Fall Guys, while empowering game developers and creators with Unreal Engine, Epic Online Services and the Epic Games Store.

Epic Games’ equity is now valued at $28.7 billion.

Announcing a New Funding Round of $1 Billion to Support Epic’s Long-Term Vision for the Metaverse

Epic Games announces a new round of $1 billion in funding to help develop the long-term vision for the Metaverse. Sony Group Corporation and a host of investment partners are supporting Epic’s growth.

www.epicgames.com

 

[Prodigy]

Sony paying Epic to keep their games on Steam

spoiler

I joke

 

[Sir Guts]

Sony paying Epic to keep their games on Steam

spoiler

I joke

Hopefully this doesn’t mean that future PS games doesn’t only release on EGS

I’m sure Sony will reject that.

 

[gabbo]

That'll buy a few more exclusives, yep.

 

[Stone Ocean]

Hopefully this doesn’t mean that future PS games doesn’t only release on EGS

I’m sure Sony will reject that.

We've known Sony and Epic were partnering up since PS5 reveal and yet Sony is still putting their games everywhere. No reason to be worried this has anything to do with EGS as opposed to Unreal technology

 

[Alexandros]

Sweeney really likes spending other people's money. I wonder if Epic is planning to go public soon.

 

[Panda Pedinte]

Sweeney really likes spending other people's money. I wonder if Epic is planning to go public soon.

I think there were some rumors about it in the past, though nothing official if I'm not mistaken.

 

[Shahem]

As long as Sony still release on Steam that's fine.

 

[Vantr]

Since this concerns the metaverse, I think the metaverse is a cool concept only because in my head I think it will be a world similar to the Oasis in Ready Player One. Epic is probably in the best position of bringing that world into reality with the crossovers and the social experience they have created with their events in Fortnite.

I think the only other competitor I can think of would be Facebook and how they're pushing for social experiences in VR. They are the only competitor because once there is a "full dive" VR, the experience on that FB can provide would outclass Epic. Especially since the current metaverse Epic has only appeals to gamers.

 

[m_dorian]

Sony funds an asshole. Good luck with that.

 

[Sir Guts]

Sony funds an asshole. Good luck with that.

Well, they aren’t doing it for him. They need something in return

This is business