Epic Games, Parent Company of Fortnite, Hits A Value Of Over $15 Billion
Epic Games, the creators of game-craze Fortnite, has hit a valuation of over $15 billion.
The company said more than $1.25 billion in stock was purchased by new investors last week. These investors included e-sports owner aXiomatic, Lightspeed Venture Partners and Walt Disney Co.
Fortnite garnered international attention when it began offering its free mode but continued making money by selling virtual costumes and dance modifications to its players.
Analysts say the shooting game has been losing gamer attention since the summer, but its parent company, Epic Games, will be fine in the long run.
The e-sports industry is gaining more attention as more professional athletes, celebrities and former professional gamers are investing money in these companies. Drake and Michael Jordan both announced they are now investors in two separate e-sports ventures as well.
Epic Games is also known for creating Gears of War and developing software that helps others make video games.