A group including KKR & Co, Vulcan Capital, Kleiner Perkins Caufield Byers, Iconiq Capital and e-sports startup AXiomatic Gaming bought US$1.25 billion of Epic Games' shares in 2018. The company, founded by billionaire Tim Sweeney in his parents' basement in 1991, was valued in the investment at US$15 billion, a person familiar with the matter said at the time.
Mr Sweeney sold 40 per cent of the company to Chinese Internet giant Tencent Holdings in 2012. Other minority owners include Walt Disney and Endeavor Group Holdings, along with Lightspeed Venture Partners.is a cartoonish fight-to-the-death battle royale where players thrash one another in a struggle for weapons, resources and survival on a shrinking, storm-ravaged island.Epic Games, based in Cary, North Carolina, acquired Houseparty last year for an undisclosed sum.
Alongside Zoom Video Communications, Houseparty may be the product that most defines the current moment, when some 300 million Americans have been urged to stay home to help mitigate the spread of the new coronavirus. At its core, Houseparty's free mobile and desktop apps let people video chat with friends or family, similarly to Zoom or Apple's FaceTime. But Houseparty, which had previously been popular mainly with teenagers, builds in a slew of other features meant to encourage interaction, including the ability to remotely play games likeHouseparty said earlier this month it had 50 million sign ups over 30 days, with some markets seeing as many as 70 times the normal rate of new users.
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