3 ms·

Will be interesting to see what % stake Disney got. Tencent currently owns 40% of Epic and Sony has another 5%. Given their last valuation of $32B it doesn't se

by paxys 3y ago

Will be interesting to see what % stake Disney got. Tencent currently owns 40% of Epic and Sony has another 5%. Given their last valuation of $32B it doesn't seem like Disney will end up with more than 3-4%. Still a good chunk, but not quite enough to call the shots.

echelon 3y ago
It's enough to start pivoting into this area. They can gain exposure and increase their stake over time.
ProfessorLayton 3y ago
Pretty sure Epic took a big haircut in valuation too, just like its peers. Money is a lot more expensive now, so perhaps Disney got a nice deal.
- araes 3y ago
  Probably, they had to let 830 (16%) go to reach financial stability and got rid of Bandcamp and SuperAwesome for another 250. [1] Apparently they were "spending way more money than we earn" to try and turn Fortnite into a metaverse concept. However, lately they say they've been getting by on low margin creator content revenue sharing that seems to not be enough. Based on the letter, the layoffs and divestitures brought them to financial stability again. [1] Sept 28, 2023 https://www.epicgames.com/site/en-US/news/layoffs-at-epic https://www.epicgames.com/site/en-US/news/layoffs-at-epic
  - jtriangle 3y ago
    Oh make no mistake, they're still burning a ton of money trying to get their cross play metaverse thing off the ground. Those dev teams didn't lose a single person in those layoffs, in fact, whole departments were gutted and some of the engineering talent was reassigned to the metaverse team. It's so much worse than you can imagine.
- quickthrower2 3y ago
  Disney ironically being the smartest tech investor by being old school and buying low.
zemo 3y ago
yeah weirdly the Wikipedia page right now says it's 10% and its source is this article, which ... does not say that.
- thaumasiotes 3y ago
  Wikipedia cares that claims are cited. It doesn't care whether the citation goes to anything that supports the claim.
- SllX 3y ago
  That got removed. The math didn't math, and I assume the editors had no more luck than I did trying to independently verify it.

by paxys 3y ago

echelon 3y ago

It's enough to start pivoting into this area. They can gain exposure and increase their stake over time.

ProfessorLayton 3y ago

Pretty sure Epic took a big haircut in valuation too, just like its peers. Money is a lot more expensive now, so perhaps Disney got a nice deal.

araes 3y ago
Probably, they had to let 830 (16%) go to reach financial stability and got rid of Bandcamp and SuperAwesome for another 250. [1] Apparently they were "spending way more money than we earn" to try and turn Fortnite into a metaverse concept. However, lately they say they've been getting by on low margin creator content revenue sharing that seems to not be enough. Based on the letter, the layoffs and divestitures brought them to financial stability again. [1] Sept 28, 2023 https://www.epicgames.com/site/en-US/news/layoffs-at-epic https://www.epicgames.com/site/en-US/news/layoffs-at-epic
- jtriangle 3y ago
  Oh make no mistake, they're still burning a ton of money trying to get their cross play metaverse thing off the ground. Those dev teams didn't lose a single person in those layoffs, in fact, whole departments were gutted and some of the engineering talent was reassigned to the metaverse team. It's so much worse than you can imagine.
quickthrower2 3y ago
Disney ironically being the smartest tech investor by being old school and buying low.

zemo 3y ago

yeah weirdly the Wikipedia page right now says it's 10% and its source is this article, which ... does not say that.

thaumasiotes 3y ago
Wikipedia cares that claims are cited. It doesn't care whether the citation goes to anything that supports the claim.
SllX 3y ago
That got removed. The math didn't math, and I assume the editors had no more luck than I did trying to independently verify it.