Epic Games, the creator of the popular video game "Fortnite", is close to raising a $750 million round of funding at a valuation of about $17 billion, Bloomberg News reported on Monday, citing people familiar with the matter.
New investors T. Rowe Price Group Inc <TROW.O> and Baillie Gifford will contribute to the round, while existing investors including KKR & Co Inc <KKR.N> will also participate, the report added https://www.bloomberg.com/news/articles/2020-06-15/fortnite-maker-epic-is-said-to-near-funding-at-17-billion-value?utm_medium=social&cmpid=socialflow-twitter-business&utm_campaign=socialflow-organic&utm_source=twitter&utm_content=business.
The company had received https://www.reuters.com/article/us-epic-games-funding/fortnite-creator-epic-games-raises-1-25-billion-from-kkr-others-idUSKCN1N0277 $1.25 billion in funding from investors, including KKR & Co, in 2018.
Epic Games declined to comment on the report.
(Reporting by Ayanti Bera in Bengaluru; Editing by Maju Samuel)
