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Believe it or not: Sony is investing $1 billion in Epic Games

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epic games announcement a $2 billion funding round to advance the company’s vision to build the Metaverse and support its continued growth. This round includes investments from existing investor Sony Group Corporation as well as KIRKBI, the family holding and investment company behind the LEGO Group.

Each party is investing US$1 billion. The three companies place great importance on creators and gamers and aim to create new social entertainment by exploring the connection between the digital and physical worlds. Epic continues to have only one class of common stock outstanding and remains controlled by its CEO and founder, Tim Sweeney.

“As a creative entertainment company, we’re excited to invest in Epic to deepen our relationship in the realm of the metaverse, a space where creators and users share their time,” said Kenichiro Yoshida, president and CEO of SonyGroup Corporation.

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“We are also confident that the Epic experience, including its powerful game engine, combined with Sony technologies, will accelerate our various efforts, such as the development of new digital experiences for sports fans and our virtual production initiatives.”

This post-money stock valuation of Epic is $31.5 billion. The closing of the investment is subject to customary conditions, including regulatory approvals.

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** This text does not necessarily reflect the opinion of Portal UAI.

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