Video game developer and publisher Epic Games, known for developing Fortnite, is on its way to raising $750 million in funding, which would bring its valuation up to $17 billion, as first reported by Bloomberg.
While Epic is privately held, Bloomberg reported T. Rowe Price Group, Baillie Gifford and KKR & Co. will have a hand in this round of funding.
Fortnite, with 350 million registered users and counting, is free to play online. Thus, money is made through in-game microtransactions. With so many users, these microtransactions add up to a lot of money. In Fortnite's case, they amount to billions of dollars, according to Business Insider.
As evidence of Fortnite’s popularity, users overloaded servers Tuesday a mere minute after the start of a live in-game event, according to...