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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.

Former D.C. Guard alleges Army Generals lied about Jan. 6 response

Members of the National Guard and Capitol police keep a small group of pro-Trump demonstrators away from the Capitol following the insurrection on Jan. 6. Photo: Spencer Platt/Getty Images

A former D.C. National Guard official has alleged that top Army generals "lied" to Congress in their testimony on the U.S. Capitol riot, Politico first reported Monday.

The big picture: Col. Earl Matthews, who was serving on Jan. 6, alleges in a memo that the official version on the military response is "worthy of the best Stalinist or North Korea propagandist" and that the Pentagon inspector general's November report on it features "myriad inaccuracies, false or misleading statements, or examples of faulty analysis."

Toyota to build $1.3 billion U.S. battery plant in North Carolina

The all-electric Toyota bZ4X, the company's first battery-electric vehicle, at the Los Angeles Auto Show in Los Angeles, California on Nov. 17. Photo: Frederic J. Brown/AFP via Getty Images

Toyota announced Monday it's investing $1.3 billion to construct an electric vehicle battery "megasite" near Greensboro, North Carolina, set to open in 2025.

Why it matters: Toyota's Prius hybrid won environmental plaudits when it launched in 1997, but it has since lost ground to electric vehicle world leader Tesla, per Axios' Joann Muller. This battery plant will be the first to produce automotive batteries for Toyota in North America.