Epic Games is fundraising at above US$15bil value

While Houseparty and Fortnite are brand names, much of Epic’s value may lie in its Unreal Engine, a popular software for game developers that’s the backbone of hundreds of video games. — Bloomberg

Epic Games Inc, the Fortnite videogame maker and owner of the Houseparty app that has exploded in popularity during the pandemic, has held talks to raise a new round of funding valuing it above its last valuation of US$15bil (RM65.51bil), according to people familiar with the matter.

The company has hired a financial adviser to handle the fundraising, said the people, who asked not to be identified because the matter is private.