'Fortnite' maker Epic Games gets $28.7 billion valuation in latest funding

FILE PHOTO: The Epic Games logo, maker of the popular video game "Fortnite", is pictured on a screen in this picture illustration August 14, 2020. REUTERS/Brendan McDermid/Illustration

(Reuters) - Epic Games, which is in the middle of a legal battle with Apple, said on Tuesday it had raised $1 billion in a funding round that valued the "Fortnite" maker at $28.7 billion.

People staying at home during the COVID-19 pandemic have turned to games for entertainment, helping drive a 35% surge in video game spending in February to about $4.6 billion, according to research firm NPD.