Epic Games - StartupWiki | AI Startup Research Directory

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Epic Games — Startup ProfileBuilding the Metaverse from Fortnite to Unreal EngineHQ: Cary, NC, United States | Founded: 1991 | Employees: ~3,200 | Stage: Late Stage / Private | Website: https://www.epicgames.comAboutEpic Games was founded in 1991 by Tim Sweeney as Potomac Computer Systems in Potomac, Maryland, later headquartered in Cary, North Carolina. Originally known for ZZT, Unreal Tournament and Gears of War, Epic transformed in 2017 with the launch of Fortnite Battle Royale, which grew to over 400 million registered users and 70 million monthly active users. The company now employs ~3,200 after September 2023 layoffs of 830 staff (16%) and divestitures of Bandcamp and SuperAwesome, and is majority-controlled by CEO Tim Sweeney with Tencent holding ~40% since its $330M 2012 investment.Epic's business spans three pillars: games (Fortnite, Fall Guys via 2021 Mediatonic acquisition, Rocket League via Psyonix), platform (Epic Games Store launched Dec 2018 with 88/12 revenue share and 230M+ users),Key Metrics

Valuation: $22.5B (Feb 2024 Disney)

Peak Valuation: $31.5B (Apr 2022)

Total Funding: $5.7B

2022 Revenue: $6.3B ($5.8B games + Unreal)

Employees: ~3,200 (post-layoff 2023)

Fortnite Users: 400M+ registered, 70M MAU

Funding Rounds

Round: $330M (2012-06-22) — Tencent

Round: $1.78B (2020-08-06) — BlackRock, Baillie Gifford, Fidelity, Lightspeed

Round: $1B (2021-04-13) — Sony Group ($200M)

Round: $2B (2022-04-11) — Sony ($1B), KIRKBI (LEGO) ($1B)

Round: Undisclosed (2022-09-20) — T. Rowe Price, Fidelity, BlackRock, Ontario Teachers'

Key People

Tim Sweeney

Mark Rein

Adam Sussman

Kim Libreri

Key Competitors

Roblox —

Unity —

Valve (Steam) —

Meta (Horizon) / Microsoft (Minecraft) —

Timeline Highlights

2024-02-07: Disney $1.5B Strategic Investment

2022-04-11: Peak Valuation $31.5B — Sony & KIRKBI Invest $2B

2018-12-06: Epic Games Store Launches

2017-09-26: Fortnite Battle Royale Launches

2012-06-22: Tencent Invests $330M for 40%