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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.

Go deeper

Ina Fried, author of Login
Nov 18, 2020 - Technology

Apple to lower commissions for small businesses on App Store

Screenshot via Apple.com

Apple announced a new program Wednesday under which it will take a smaller 15% cut from App Store sales for businesses earning less than $1 million selling their apps, rather than the standard 30% cut.

Why it matters: Apple is under fire from some critics over its rigid App Store policies that require developers to use Apple payment systems for both app sales and in-app payments in exchange for a cut of sales.

Ben Geman, author of Generate
5 mins ago - Economy & Business

GM's shrinking deal with Nikola

Illustration: Rebecca Zisser/Axios

General Motors will no longer take an equity stake in Nikola Corp. or build its pickup truck, under a revised deal that still envisions GM as a key tech supplier for Nikola's planned line of electric and fuel cell heavy trucks.

Driving the news: The revised agreement Monday is smaller in scope than a draft partnership rolled out in September that had included a $2 billion stake in the startup and an agreement to build its Badger pickup.

53 mins ago - Technology

Exclusive: Facebook's blackout didn't dent political ad reach

Photo: Valera Golovniov/SOPA Images/LightRocket via Getty Images

Americans saw more political ads on Facebook in the week before the 2020 election than they did the prior week despite the company's blackout on new political ads during that period, according to Global Witness, a human rights group that espouses tech regulation.

Why it matters: The presidential election was a key stress test for Facebook and other leading online platforms looking to prove that they can curb misinformation. Critics contend measures like the ad blackout barely made a dent.