The Fortnite logo will be shown at the Paris Games Week (PGW), a video games fair in Paris, France, on October 25, 2018. REUTERS / Benoit Tessier
(Reuters) – Epic Games, creator of the popular online video game "Fortnite," said on Friday that there are $ 1.25 billion of investors, including KKR & Co Inc (KKR.N), Iconiq Capital and Smash Ventures.
"Fortnite", a kind of hybrid of "The Hunger Games" and "Minecraft", lets 100 people fall on an island to fight each other for survival.
The tactical tournament game, the first version of which was released in 2017, was described by analysts as "groundbreaking in the industry" after it had enrolled tens of thousands of users for its "Battle Royale" format in end-game mode in recent months.
Epic Games, which counts Tencent, Walt Disney Co (DIS.N) and Endeavor among its minority shareholders, was estimated at $ 4.5 billion by Jefferies analyst Tim O'Shea in May.
Rival video game maker Activision Blizzard (ATVI.O), Creator of "Call of Duty", and "Grand Theft Auto" owner Take-Two Interactive (TTWO.O) lost billions of dollars in market value this year as investors took note of Fortnite's ability to win cash from players.
The company did not comment on the valuation and plans to go public.
Reporting by Vibhuti Sharma in Bengaluru; Editing by James Emmanuel and Arun Koyyur