Boy, Tencent is smart. If you want to get a handle on just how smart, consider this: Last Thursday (July 9th), entertainment-and-electronics giant Sony Corporation announced it was buying a minority stake worth $250 million in Epic Games, maker of Fortnite. Epic recently nailed a $17 billion valuation, meaning Sony’s stake will be worth around 1.5% of the company.
But eight years ago, in summer 2012, Chinese competitor Tencent already spent a comparable sum ($330 million) buying its own stake in Epic. This was five years before Fortnite publicly launched. The deal netted Tencent...
But eight years ago, in summer 2012, Chinese competitor Tencent already spent a comparable sum ($330 million) buying its own stake in Epic. This was five years before Fortnite publicly launched. The deal netted Tencent...
- 7/13/2020
- by Tim Ingham
- Rollingstone.com
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