- Fortnite maker Epic Games raised $2 billion from Sony Group Corp (NYSE:SONY) and the family-owned holding company behind the Lego Group, reaching a valuation of $31.5 billion, Reuters reports.
- Sony, an existing investor, and the Kirkbi investment company invested $1 billion to help Epic accomplish its metaverse ambitions.
- Epic Games essentially lost a trial in 2021 over Apple Inc's (NASDAQ:AAPL) alleged restrictive practices in its App Store and its 30% commission for each purchase made on its App Store.
- China resumed approving gaming licenses after restricting the same in July 2021.
- China has granted licenses to 45 internet games, including Baidu Inc (NASDAQ:BIDU), Reuters reports.
- Price Action: SONY shares closed lower by 5.55% at $92.82 on Monday.
