Offering Unity

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    Software company Unity has filed to go public on the New York Stock Exchange, under the ticker symbol U. Unity’s game engine is behind more than half of the top 1,000 games in the App Store and the Google Play Store. It is also used by Fall Guys: Ultimate Knockout, one of the fastest growing video games — more than 2 million copies of the game were sold on Steam in the first five days of its release earlier this month.

    Along with its game engine, Unity also has a service that helps companies monetize their content. Unity’s client list includes BMW, Electronic Arts, Microsoft, Niantic, Sony, Tencent and Zynga.

    In 2019, Unity generated $541.8 million in revenue and tallied a $163.2 million loss. The revenue was a 42% increase compared to 2018. Investors include DFJ, Sequoia Capital and Silver Lake Partners.

    As Unity prepares to go public, one of its competitors, Epic Games, is going to court with Apple and Google. A tough court battle could derail Epic’s Unreal Engine — putting Unity in a solid position as the gaming industry continues to grow.