Epic Games nears funding at $17 billion value: Bloomberg News

(Reuters) – Epic Games, the creator of the popular video game “Fortnite”, is close to raising a $750 million round of funding at a valuation of about $17 billion, Bloomberg News reported on Monday, citing people familiar with the matter.

New investors T. Rowe Price Group Inc and Baillie Gifford will contribute to the round, while existing investors including KKR & Co Inc will also participate, the report added https://www.bloomberg.com/news/articles/2020-06-15/fortnite-maker-epic-is-said-to-near-funding-at-17-billion-value?utm_medium=social&cmpid=socialflow-twitter-business&utm_campaign=socialflow-organic&utm_source=twitter&utm_content=business.

The company had received https://www.reuters.com/article/us-epic-games-funding/fortnite-creator-epic-games-raises-1-25-billion-from-kkr-others-idUSKCN1N0277 $1.25 billion in funding from investors, including KKR & Co, in 2018.

Epic Games declined to comment on the report.

(Reporting by Ayanti Bera in Bengaluru; Editing by Maju Samuel)