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Epic Games valued at $31.5 bn in fresh funding from Sony, Lego firm

Epic Games valued at $31.5 bn in fresh funding from Sony, Lego firm

Epic Games has largely lost a trial last year over whether Apple's payment rules for apps were anticompetitive.

Epic Games valued at $31.5 bn in fresh funding from Sony, Lego firm (Photo: Reuters) Epic Games valued at $31.5 bn in fresh funding from Sony, Lego firm (Photo: Reuters)

Epic Games said on Monday it had raised $2 billion from Sony Group Corp  and the family owned holding company behind the Lego Group, giving the "Fortnite" maker a valuation of $31.5 billion.

Sony, an existing investor, and the Kirkbi investment company each invested $1 billion, with the fundraising to help Epic advance and support the growth of its metaverse.

Epic Games has largely lost a trial last year over whether Apple's payment rules for apps were anticompetitive. That decision found Apple had suitable reasons to force some app makers such as Epic to use its payment system and take commissions of 15% to 30% on their sales.

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Published on: Apr 11, 2022, 8:41 PM IST
Posted by: Tarab Zaidi, Apr 11, 2022, 8:29 PM IST