Google Considered Buying Epic Games to Stop Lawsuits!

Updated:10:44 AM CEST Sep,20

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Gameguru Mania News - Aug,09 2021 -

Google Considered Buying Epic Games to Stop Lawsuits! - briefly
(hx) 10:25 PM CEST - Aug,09 2021 - Post a comment / read (4)
As you’re probably aware, Epic Games is currently in the middle of more than a few legal battles as it attempts to take on both Apple and Google and, specifically, the commission they charge for sales on their respective platforms. Put simply, Epic Games doesn’t think that it’s fair that for any of the microtransactions conducted in their games such as Fortnite, the hosting platforms take a 30% cut. – Preempting that such lawsuits would eventually be filed over the matter, however, following a report via TechSpot, it turns out that, for a brief moment, Google considered just buying Epic Games outright to avoid this happening! As part of the report, it has been revealed that following internal discussions at Google, they were more than a little concerned at the potential of Epic Games looking into finding means of bypassing the main Google Play store entirely. This is, after all, exactly what they had attempted to do with Apple. – Correctly predicting that this would eventually end up in legal battles (which can often be very expensive), it turns out that their concern over this matter was great enough that, for a brief moment, Google considered just buying Epic Games and bringing it under their ‘Alphabet’ umbrella. Google has gone so far as to share its monopoly profits with business partners to secure their agreement to fence out competition, has developed a series of internal projects to address the 'contagion' it perceived from efforts by Epic and others to offer consumers and developers competitive alternatives, and has even contemplated buying some or all of Epic to squelch this threat.
It's still unclear as to when these discussions took place, as the documents only have Epic quoting the internal messages second-hand, and Epic CEO Tim Sweeney made it clear that Google had never reached out to Epic with these discussions -- in fact, Epic weren't aware of them.

This was unbeknownst to us at the time, and because of the court’s protective order we’re just finding out now about Google’s consideration of buying Epic to shut down our efforts to compete with Google Play.https://t.co/HSS1edUrQm
— Tim Sweeney (@TimSweeneyEpic) August 6, 2021

In comparative terms, Epic Games is only worth around 8% of Google’s total value, and as such, although this would clearly represent a huge amount of money, Google would legitimately represent one of the few companies who could afford to make the purchase.

In related news, looks like Epic Games Store Keeps Losing Money and is expected unprofitable until 2027, even with a massive $500M investment behind it! "Epic lost around $181 million on EGS in 2019. Epic projected to lose around $273 million on EGS in 2020. Indeed, Epic committed $444 million in minimum guarantees for 2020 alone, while projecting, even with 'significant' growth, only $401 million in revenue for that year. Epic acknowledges that trend will continue in the immediate future: Epic projects to lose around $139 million in 2021." If we take the lower figures, that adds up to an investment on Epic's part of $493 million since 2019, and Epic itself has acknowledged that "unrecouped costs" will amount to at least $330 million. "At best, Epic does not expect EGS to have a cumulative gross profit before 2027."

Of course this all needs to be taken in the context of what Epic is trying to do with the Epic Games Store, and the fact that Epic is an enormously profitable company in other respects: it can afford to write off these eye-watering sums as an investment in the future and, if it all works out, the Epic Games Store will become a key player in game distribution and highly profitable.

last 10 comments:

Csimbi	(11:31 AM CEST - Aug,10 2021 )
If you can't kill it, buy it.

Sabot	(03:12 PM CEST - Aug,10 2021 )
Shows you how much Google are shiting themselves. A MONSTER the size of Google capitulating to Epic is one helluva own goal. Epic are like bent over double pissing themselves. Next the monopoly Steam, whom controls Amazon and all other key sellers that can only sell at what Steam sets the price at. Kill these fat cats :lol:

Sabot

(03:34 PM CEST - Aug,10 2021 )

Btw, Tesla only started making profits in January.

quote:
Riding a sales surge amid a global pandemic, Tesla Inc. on Wednesday reported that it posted its first annual net profit in 2020.

In a year that saw its stock soar to make it the world’s most valuable automaker, Tesla earned $721 million, capped by a $270 million profit in the fourth quarter. It was the company’s sixth straight quarterly net profit after years of mostly losses.

A year earlier, Tesla lost $862 million. Data provider FactSet says 2020 ended a string of annual red ink that began in 2006.

Once again the company needed regulatory credits purchased by other automakers in order to make a profit. Without $1.58 billion in credits for the year, Tesla would have lost money. Other automakers buy the credits when they can’t meet emissions and fuel economy standards.
Means suit when you have backing and readies in the bank. Fuck, billionaires blow and loose hundreds of thousands in a night at Las Vegas. To us it’s “wow” to them it’s “did I?”

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