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Fortnite-owner Epic Games worth $28bn after lockdown bonanza

Fortnite-owner Epic Games worth $28bn after lockdown bonanza

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The owner of Fortnite and Houseparty, two of the pandemic’s biggest technology smash hits, is closing in on another large injection of funding that will value it at about $ 28bn (£20.2bn).Sky News can exclusively reveal that Epic Games, which was founded by Tim Sweeney 30 years ago, is finalising the terms of a $ 1bn fundraising just seven months after closing a previous round. Epic Games' stunning new valuation will underline the extent to which it has emerged as a corporate winner from the global coronavirus crisis.The company was valued at $ 17.3bn after a $ 1.78bn capital-raising announced last July, which included a $ 250m contribution from the Japanese entertainment giant Sony. Image: The game has more than 350m accounts worldwide and 2.5b...