Fortnite Developer Epic Responds To Speculation About IPO
A spokesperson for the studio says it has no official plans to launch an IPO, but it also hasn't ruled it out.
Fortnite developer Epic Games has confirmed it continues to hire people to help with its investor relations initiatives, but that does not necessarily mean the company is planning to go public with an IPO.
A spokesperson for Epic told GameSpot that the company is "always monitoring the market" and that it has the foundation in place to make a move if it wanted to. However, right now the company has no official plans to go public, it seems.
"It's fairly common for companies of our size to hire people to help broaden and deepen relationships with existing investors and build new relationships," a spokesperson said. "Epic is always monitoring the market and is prepared to consider opportunities as they arise, but right now we are focused on investing in our business, executing against our opportunities, and delivering value to our investors."
Epic confirmed this after it was discovered on social media that the Fortnite studio hired someone to work on investor relations, which prompted speculation that the company might be considering a move to go public with an IPO.
The Cary, North Carolina-based game developer and publisher has existing, ongoing relationships with numerous high-profile investors, including Disney, as well as notable venture capital firms such as Vulcan Capital, KKR, and Endeavor. Additionally, the company is owned in part by Chinese internet giant Tencent.
Epic controls one of the most popular games on Earth in Fortnite and also one of the most widely used game engines with Unreal. This technology is also used in film and TV productions, including the Star Wars TV show The Mandalorian.
Epic is indeed one of the hottest tech companies out there with a bright future ahead of it, but whether or not that future includes an initial public offering and a listing on the stock exchange remains to be seen.