Epic Games Announces $2B Round from Sony, KIRKBI to Build the Metaverse

Epic Games has announced a $2 billion round of funding to advance the firm’s vision “to build the Metaverse and support its continued growth.”

This massive investment round includes contributions from existing investor Sony Group Corporation and KIRKBI, the family-owned holding and investment firm behind The LEGO Group, “with each party investing $1 billion respectively.”

All three firms “highly value both creators and players, and aim to create new social entertainment exploring the connection between digital and physical worlds.” Epic continues to have only “a single class of common stock outstanding and remains controlled by its CEO and founder, Tim Sweeney.”

Kenichiro Yoshida, Chairman, President and CEO, Sony Group Corporation, stated:

“As a creative entertainment company, we are thrilled to invest in Epic to deepen our relationship in the metaverse field, a space where creators and users share their time. We are also confident that Epic’s expertise, including their powerful game engine, combined with Sony’s technologies, will accelerate our various efforts such as the development of new digital fan experiences in sports and our virtual production initiatives.”

Søren Thorup Sørensen, CEO, KIRKBI, remarked:

“Epic Games is known for building playful and creative experiences and empowering creators large and small. 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.”

Tim Sweeney, CEO and Founder, Epic Games, added:

“As we reimagine the future of entertainment and play we need partners who share our vision. 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.”

Epic’s post-money equity valuation “is $31.5 billion.” The closing of the investment “is subject to customary closing conditions, including regulatory approvals.”

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