All publications by tag «fortnite»
Epic Games to raise $750 million
Epic Games is about to raise a $750 million round of funding, which will value the company at about $17 billion. This is according to Bloomberg, which relies on sources familiar with the matter.
Existing investors including KKR & Co. will participate in the round, while some funding will come from new investors like T. Rowe Price Group Inc. and Baillie Gifford.
In 2018, the company behind Fortnite and Unreal Engine was valued at $15 billion.
Video games in and out of court (December 2019 — April 2020). Part One.
Our friends at law firm Semenov&Pevzner have put together an exhaustive overview of the most significant legal disputes that have impacted the video games industry since late 2019.
This overview covers both notable lawsuits and other impactful cases which have profoundly affected the industry without having made it to the courtroom.
Epic launches Fortnite on Google Play citing pressure from Google
Fortnite has been available on Android for 18 months as a direct download from Epic Games’ website. The company has refused to launch the title on Google Play since Google requires all games on the store to use Google’s payment service for in-app purchase. And that means, of course, giving 30% of IAP revenue to Google, something that Epic has been able to avoid until now.
As of this week, Fortnite is available to download from Google Play.
Epic calls SuperData’s Fortnite revenue intel wildly inaccurate
Last week, SuperData released a report claiming that Fortnite’s revenue has “hit their lowest level since November 2017.”
Yesterday, Epic Games issued the following statement:
“SuperData does not and has not ever had access to Epic’s Fortnite revenue data, and SuperData’s reports do not accurately reflect Fortnite’s performance.
We are disappointed that SuperData has repeatedly published wildly inaccurate reports about Fortnite based on what we believe is questionable methodology.
Tim Sweeney calls Google’s IAP policy illegal
Epic Games and Google had another opportunity to disagree over the predominant revenue share model. Epic wants to release Fortnite on Google Play, but is not prepared to give the store 30% of the game’s revenue. The developer called this kind of revenue split “illegal.”