CARY – Investor interest in Cary-based Epic Games apparently continues to soar with backers lining up for another huge round of investment: $1.7 billion and counting.
Based on media reports, the publisher of global hit Fortnite has upped its fundraising target from $1 billion, which was reported less than two weeks ago.
According to a report by Bloomberg, the new round could go even higher,
Investors are not scared off by Epic’s ever-expanding legal battles against tech giants Apple and Google, including a new complaint filed against Apple in the U.K. earlier this week.
If the funding target is as reported, the privately held firm would be valued at some $28 billion, perhaps even higher. Sky News estimated Epic would be worth $28 billion when it first reported the new fundraiser would be $1 billion.
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The traditional concept of the mall is fading away.
Once an epicenter of the suburban lifestyle, the shopping mall s purpose and importance have slowly been transforming. Specialty retail bankruptcies made shopping centers a less diverse and interesting experience. Anchor department stores filing Chapter 11s, though, has lead to destabilizing and upending entire shopping complexes. The overextension of many mall tenants and their need to rightsize was noticeable long before the pandemic, Placer.ai analysts wrote in a Redefining the Mall white paper. That, along with a seemingly one-size-fits-all mall style that was copied and pasted across the country, led to the realization that the reach of the classic anchor department store was limited and that new types of tenants must enter into the mix to augment that role.