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The company behind the Fortnite video game was valued at nearly $ 15 billion after receiving a $ 1.25 billion injection of funds from private equity firm KKR.
The game, which has been described as a cross between The Hunger Games and Minecraft, has proved extremely popular since its release last year by Epic Games.
The game is downloadable for free. You earn money by charging costume players and other decorations into the virtual currency of the game.
Fortnite, which, in the "Royal Battle" mode, involves 100 characters fighting for their survival on a dystopian island, has been played by more than 125 million people, making it the most popular video game in the world. It was also controversial as parents complained about violent themes and teachers said it distracted children from homework.
North Carolina-based Epic, one of its largest investors, Tencent Holdings and Walt Disney, posted a gain of $ 4.5 million in May. It was valued at only $ 660 million in 2012 when Tencent bought 48% of the capital.
The company is led by its founder and general manager, Tim Sweeney, who installed it in the basement of his parents in Maryland in 1991.
Activision Blizzard, the creator of Call of Duty, and Take-Two Interactive, which manufactures Grand Theft Auto, have lost billions of dollars in market value this year, as investors worried about the impact Fortnite, particularly its ability to get extra money from players for in-game purchases. Fortnite operates a currency called V-Bucks.
A new wardrobe is put on sale every day in the showcase of the game, clothes each costing a few pounds. Players can dress their digital avatar into ninja, medieval knight, Olympic skier or skeleton, for example, to stand out from the crowd.
Sweeney said the company "wanted to establish a direct relationship with our customers on all platforms, wherever possible … physical showcases and intermediary distributors are no longer needed."
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