Epic Games, the developer of Fortnite, is currently valued at $28.7 billion
Last year, Japanese electronics firm Sony dropped a cool quarter of a billion into Epic. In 2018, Epic raised $1.25 billion from investors including private equity firm KKR. Epic claims to have more than 160 million users on its PC Store.
Epic brazenly offered Fortnite users its own platform to pay for in-game currency which helped it avoid the 30% cut that Apple receives from in-app purchases. But this violated Apple’s App Store regulations and the game was removed from the iOS storefront leading Epic to sue Apple alleging antitrust violations. Last week, Apple revealed some of its legal strategy, which is to testify that it faces heavy competition in the market for in-app transactions.
Epic launched Fortnite in 2017 and the free-to-play game has become quite popular among youngsters.
