Updated Aug 24, 2020 - Economy

Unity Software files for IPO

Illustration of a hand playing a video game controller with a line graph in the background

Illustration: Sarah Grillo/Axios

Unity Software, a San Francisco-based company known for its popular video game engine, has filed to go public on the New York Stock Exchange under the ticker symbol "U."

Why it matters: The company's move comes at a time when its main rival, Epic Games' Unreal video games engine, is under a cloud as its parent company faces expulsion from the Apple App Store.

By the numbers:

  • Revenue: Unity is still unprofitable.
    • In 2018, it had $131.6 million in losses on $380.8 million in revenue.
    • In 2019, it had $163.2 million in losses on $541.8 million in revenue.
    • In the first six months of 2020, it had $54.2 million in losses on $351.3 million in revenue.
  • In the first six months of 2020, Unity had 716 customers contributing more than $100,000 in annual revenue each.
  • The company says it has 1.5 million monthly active creators, whose apps are downloaded 3 billion times per month.
  • Unity's top shareholders are Sequoia Capital, Silver Lake and JA Technologies ApS.

The big picture: Unity's filing is just one of a number of tech IPO announcements in the past 24 hours. Niche technology Snowflake, Sumo Logic and JFrog all disclosed their plans to go public on Monday.

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