Sony and Lego Invest $2.7B In Epic Games
Epic Games, makers of the popular Fortnite franchise and current sparring partner with Apple, have announced a US$2 billion round of funding, with both Sony and KIRKBI, owner of the Lego Group, investing US$1 billion each.
The funding is to “advance the company’s vision to build the metaverse and support its continued growth”, according to a statement issued by Epic.
“As we reimagine the future of entertainment and play we need partners who share our vision,” said Tim Sweeney, CEO and Founder of Epic Games.
“We have found this in our partnership with Sony and KIRKBI. This investment will accelerate our work to build the metaverse and create spaces where players can have fun with friends, brands can build creative and immersive experiences and creators can build a community and thrive.”
Just last week, The LEGO Group and Epic Games announced a long-term partnership “to shape the future of the metaverse to make it safe and fun for children and families.” No financial specifics were announced at the time.
“Epic Games is known for building playful and creative experiences and empowering creators large and small,” said Søren Thorup Sørensen, CEO, KIRKBI.
“A proportion of our investments is focused on trends we believe will impact the future world that we and our children will live in. This investment will accelerate our engagement in the world of digital play, and we are pleased to be investing in Epic Games to support their continued growth journey, with a long-term focus toward the future metaverse.”
Kenichiro Yoshida, Chairman, President and CEO of Sony called his company’s investment a chance “to deepen our relationship in the metaverse field, a space where creators and users share their time.”
He also spoke of accerelating Sony’s efforts in “new digital fan experiences in sports.”
This injection brings Epic’s equity valuation to $31.5 billion.