Fortnight’s funding royale, China struggles, and Coinbase gets a boost to $8 billion

TechCrunch | 11/2/2018 | Staff
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Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. This week, we missed Alex Wilhelm, who was sunning himself somewhere (vitamin D deficit), but we had a rollicking time nonetheless with TC’s very excellent VC reporter Kate Clark, along with our always dependable co-host Danny Crichton and, in a bit of perfect timing, investor Brad Twohig of Lightspeed Venture Partners, whose firm participated in one of the week’s biggest financings, a $1.25 billion round for Epic Games, maker of the gaming smash hit “Fortnite.”

It wasn’t just a lot of moolah for Epic, which was founded roughly 25 years ago but unleashed “Fortnite” on the world roughly a year ago. The deal is fascinating because Epic is one of the hottest stories of the year and, as Twohig allowed, probably also one of most the most oversubscribed fundings of 2018, so we wanted to talk with him about how it all went down.

Docket - Week - Sinking - Stock - Prices

Also on the docket this week: sinking stock prices in China. Video games and the politics behind them are causing huge problems in the country, and Tencent (which conveniently owns a sizable stake in Epic Games), has lost almost 40 percent of its value this year over fears about China’s crackdown on the sector. In fact, huge losses across the board for Chinese stocks are putting enormous pressure on...
(Excerpt) Read more at: TechCrunch
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