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REUTERS: Epic Games, creator of the famous "Fortnite" online video game, announced Friday that it has received $ 1.25 billion in financing from investors including KKR & Co Inc., Iconiq Capital and Smash Ventures.
"Fortnite", a kind of hybrid of "The Hunger Games" and "Minecraft", brings 100 people to an island to fight each other for their survival.
The tactical tournament game whose first release was released in 2017 has been qualified by analysts as "game changer in the industry" after having recruited tens of millions of users in recent months for its latest format "Royal Battle".
Epic Games, which counts among its minority shareholders Tencent, Walt Disney Co and Endeavor, was estimated at 4.5 billion US dollars by Jefferies analyst Tim O Shea in May.
Rival video game makers, Activision Blizzard, creator of "Call of Duty", and Take-Two Interactive, owner of Grand Theft Auto, lost billions of dollars in market value earlier this year, as investors took act of Fortnite's ability to make money.
The company declined to comment on the assessment and its intention to become public.
(Report by Vibhuti Sharma in Bengaluru, edited by James Emmanuel and Arun Koyyur)
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