Sony Group Corporation and KIRKBI, the holding and investing company behind LEGO, are each investing $1 billion in Epic Games with a total of $2 billion in funding, Epic Games announced today. The stated purpose behind the investment is “to advance the company’s vision of building the metaverse and support its continued growth.” The announcement notes that the three companies are dedicated to “exploring the relationship between the digital and physical worlds.” How that looks functional remains to be seen.
As part of the announcement, Tim Sweeney, CEO and founder of Epic Games, said: “As we reimagine the future of entertainment and play, we need partners who share our vision. We’ve found that in our partnership with Sony and KIRKBI.” “This investment will accelerate our work to build the metaverse and create spaces where players can have fun with friends, brands can build creative and immersive experiences and creators can build a community and thrive.”
Announcing a $2 billion funding round with Sony and KIRKBI to build the future of digital entertainment. https://t.co/V0bcFftNkg
– Epic Games newsroom (@EpicNewsroom) April 11, 2022
Per Epic Games, the company still has only one class of outstanding common stock and remains under Sweeney’s control. After the investment, Epic Games’ after-money stock was valued at $31.5 billion, although its closure is still subject to all the usual closing conditions and regulatory approvals.
“As a creative entertainment company, we are excited to invest in Epic to deepen our relationship in the metaverse, a space where creators and users share their time,” added Kenichiro Yoshida, Chairman, President and CEO of Sony Group Corporation. From the same ad. “We are also confident that Epic’s expertise, including its powerful game engine, combined with Sony’s technologies, will accelerate our various efforts such as developing new digital fan experiences in sports and our virtual production initiatives.”
“Epic Games is known for building fun and creative experiences and empowering creators big and small,” said Søren Thorup Sørensen, CEO of KIRKBI, as part of the same announcement. “A proportion of our investments focus on trends that we believe will impact the future world in which we and our children will live. This investment will accelerate our participation in the world of digital play, and we are pleased to invest in Epic Games in order to support their continued growth journey, with a long-term focus toward the future. metaverse.”
News of the $2 billion investment comes after Epic Games announced a long-term partnership with the LEGO Group just last week. The goal of that partnership when announced was to create “the future of the metaverse to make it safe and fun for children and families.”
What do you think about Sony Group Corporation and KIRKBI investing $1 billion each in Epic Games? Excited to hear about any actual Epic Games insight into the metaverse? Tell us in the comments, or feel free to reach out to me and hit me directly on Twitter at Tweet embed In order to talk about all things gaming!
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