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Rumors: Epic Games plans to raise $ 1.7 billion from investors — some of the money will probably go to lawyers
Epic Games is in talks to raise $ 1.7 billion, which is twice as much as last year. According to Bloomberg sources familiar with the discussion, the company’s business value is estimated at about $ 28 billion.
The company has already committed more than $ 1 billion in liabilities, and the final amount has yet to be determined. Capital comes primarily from mutual funds and other large institutional investors, many of whom are already sponsors, sources say. Some of the money will most likely go to pay for the work of lawyers. Epic Games is waging legal battles with Apple and Google over allegations of anti-competitive behavior, demanding a reduction in the share of transactions through its app stores.
Epic Games spokesman declined to comment to Bloomberg. But the deal was also previously reported by Sky News.
The company has started raising funds at an incredible rate over the past few years, fueled by the growth of Fortnite. Epic Games said last August that it received $ 1.78 billion from a valuation of $ 17.3 billion. The company has acquired several established startups, including the creators of the hit game Fall Guys: Ultimate Knockout.