Unity prepares to go public

Yesterday we wrote Corsair is looking to go public again after several failed attempts and now there's news that the maker of the Unity video game engine is also preparing for an IPO. This comes at an interesting time of course, as rival Epic Games recently started a battle with Apple and Google in hopes of opening up the mobile app market.

Unity wants to trade on the NYSE under the single-letter ticker symbol "U". TechCrunch has some info about Unity's financials.

For the first six months of 2020, the company lost $54.2 million on $351.3 million in revenue. The company narrowed its losses compared to 2019, when the company lost $163.2 million on $541.8 million in revenue, and 2018 when the company lost $131.6 million on $380.8 million in revenue. As of June 30, 2020 the company had total assets of $1.29 billion and $453.2 million in cash.

The firm is a lot smaller than Epic Games. The latter pulled in $730 million in profit on revenue of $4.2 billion in 2019.

Unity's latest funding round valued the company at $6 billion.