(2021-03-22) Epic Games Raised $1B

Epic Games, creator of video games including "Fortnite," has raised $1B at a valuation of $28B.

Last month, Unreal Engine released its MetaHuman Creator, which allows developers to create multiple types of realistic characters in minutes, rather than "weeks or months," according to Epic Games CTO Kim Libreri.

In August, Apple removed "Fortnite" from the App Store after the game introduced a feature to bypass Apple's in-app purchase mechanism, thus circumventing its 30% revenue share. Days later, a U.S. District Court blocked Apple from shutting down the Unreal Engine used by thousands of game developers, but it upheld Apple's banning of "Fortnite" from the App Store. "Fortnite" reportedly lost about 60% of players who were playing using the iPhone

In November, Nvidia brought "Fortnite" back to iPhones when it launched the beta version of its cloud gaming service "GeForce Now" to iOS devices through Safari. (2020-11-19-GeforceNowStreamingComesToIosSafari)