Epic Games Hires an Investor Relations Specialist, Fueling Speculation of a Public Offering [Update]
Update: In a statement issued to GameSpot, an Epic Games spokesperson says the company is "monitoring the market" and "prepared to consider opportunities as they arise," but an IPO isn't necessarily coming in the short term...
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. 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.
Original story: Could Epic Games be planning to go public? Thanks to games like Fortnite and Rocket League, the standard-setting Unreal Engine, and the Epic Games Store, they’re one of the biggest and most powerful forces in the industry, and yet, unlike most other AAA publishers, Epic remains a privately-owned company. Well, we now have a hint that may be about to change. Earlier today Bloomberg columnist Tae Kim dropped this rather intriguing Tweet.
— tae kim (@firstadopter) February 5, 2021
For those not sure what we’re looking at, that’s the standard message LinkedIn gives you when somebody in your network lands a new job. So, apparently, somebody named Alex (it’s unclear exactly who it is yet) has been hired as an Investor Relations specialist at Epic Games. But why would they need to hire somebody like that if they’re not a publicly-traded company? Hmmm!
Niko Partners analyst and noted industry insider Daniel Ahmad quickly jumped on the tweet, suggesting it may mean an Epic IPO (initial public offering) is forthcoming.
Seems like Epic Games IPO won't be too far off. Not too surprising tbh https://t.co/EvitGzA4Vq
— Daniel Ahmad (@ZhugeEX) February 5, 2021
Now, obviously, this is not hard evidence of anything. Take this all with a grain of salt and temper your excitement. That said, these are reliable names from respectable outlets dropping these hints. It’s certainly food for thought.
Obviously, Epic Games is doing very well for itself, but the company also has ambitious plans to expand into the world of computer animation and movies with its new Unreal Engine 5, so they may be looking for some extra funding. Or perhaps Tim Sweeney, who owns a controlling stake in Epic, is just looking to cash in when things are hot. Epic was recently valued at over $17 billion and that figure would undoubtedly skyrocket upon going public. This could also be Chinese mega-publisher Tencent’s chance to fully take over the company (they currently own 40 percent) – those billions Tencent is reportedly raising for acquisitions may suddenly make more sense.
What do you think? Could Epic be going public? Will you be buying in if they do?
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