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A portable gaming player on the Samsung Galaxy Note 9 smartphone with the Fortnite Battle Royale video game & # 39; developed by Epic Games. (Photo by Chesnot / Getty Images)
Epic Games, the studio behind the Fortnite gaming sensation, was valued at more than $ 15 billion in its latest round of financing led by private equity firm KKR. Largely owned by Tencent, Epic Games received a $ 1.25 billion cash boost to strengthen the company's efforts in the areas of esport and live events.
Based in North Carolina Epic Games, which also develops titles such as Weapons of war and Unreal tournament, When Tencent acquired a 48% interest in the company in 2012, its value was only $ 660 million. Its valuation has soared over the past year, thanks in large part to the sensational game Fortnite. The free to play Royal Battle This style game confronts 100 players in real time against each other on a remote island. The last player or team remaining is declared the winner.
According to an Epic Games blog post, Fortnite would have attracted 80 million players in august 2018, an incredible achievement for a game released officially a little more than a year ago. League of Legends, another free game Behemoth, reported 100 million players per month in 2016, but this figure has not been updated recently.
A crowd of fans attend a Fortnite competition at TwitchCon on October 26, 2018 (Photo by Hannah Smith / ESPAT Media / Getty Images)
Fortnite's success has been attributed to its free nature, as well as its ubiquitous presence on a wide range of consoles and devices. Players can compete on different devices, including personal computers, smartphones and consoles. These two factors have significantly reduced the entry barrier for new players, making Fortnite one of the most popular games in the world.
"Epic Games has fundamentally changed the interactive entertainment model under the visionary leadership of the company," said Ted Oberwager of KKR at Financial Times.
The games generate revenue through the sale of digital items, such as special costumes, that appear in a rotating storefront updated daily. Players use the game's motto to personalize their appearance. The daily update of the store encourages players to buy new equipment or risk missing it completely. The players have already passed more than one billion dollars on purchases in Fortnite's game, according to the IGN report.
Epic is also developing Unreal Engine, a game development platform that other developers can use under license and use to create their own titles. The company was co-founded by Tim Sweeney, who is current value of about 1.8 billion dollars according to Forbes latest estimates, and Mark Rein, who currently holds the position of vice president of the company.
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A portable gaming player on the Samsung Galaxy Note 9 smartphone with the Fortnite Battle Royale video game & # 39; developed by Epic Games. (Photo by Chesnot / Getty Images)
Epic Games, the studio behind the Fortnite gaming sensation, was valued at more than $ 15 billion in its latest round of financing led by private equity firm KKR. Largely owned by Tencent, Epic Games received a $ 1.25 billion cash boost to strengthen the company's efforts in the areas of esport and live events.
Based in North Carolina Epic Games, which also develops titles such as Weapons of war and Unreal tournament, When Tencent acquired a 48% interest in the company in 2012, its value was only $ 660 million. Its valuation has soared over the past year, thanks in large part to the sensational game Fortnite. The free to play Royal Battle This style game confronts 100 players in real time against each other on a remote island. The last player or team remaining is declared the winner.
According to an Epic Games blog post, Fortnite would have attracted 80 million players in august 2018, an incredible achievement for a game released officially a little more than a year ago. League of Legends, another free game Behemoth, reported 100 million players per month in 2016, but this figure has not been updated recently.
A crowd of fans attend a Fortnite competition at TwitchCon on October 26, 2018 (Photo by Hannah Smith / ESPAT Media / Getty Images)
Fortnite's success has been attributed to its free nature, as well as its ubiquitous presence on a wide range of consoles and devices. Players can compete on different devices, including personal computers, smartphones and consoles. These two factors have significantly reduced the entry barrier for new players, making Fortnite one of the most popular games in the world.
"Epic Games has fundamentally changed the interactive entertainment model under the visionary leadership of the company," said Ted Oberwager of KKR at Financial Times.
The games generate revenue through the sale of digital items, such as special costumes, that appear in a rotating storefront updated daily. Players use the game's motto to personalize their appearance. The daily update of the store encourages players to buy new equipment or risk missing it completely. The players have already passed more than one billion dollars on purchases in Fortnite's game, according to the IGN report.
Epic is also developing Unreal Engine, a game development platform that other developers can use under license and use to create their own titles. The company was co-founded by Tim Sweeney, who is current value of about 1.8 billion dollars according to the latest Forbes estimates, and Mark Rein, currently vice president of the company.
