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Unity Raises $1.3 Billon In Public Offering

The San Francisco based Unity Technologies has raised 1.3 billion USD in a public offering. Many Mobile, PC,Console games are using Unity game engine to run their game like COD Mobile a competitor to Pubg Mobile which uses Unreal Engine, it also makes tools for developers to create games and  entertainment platforms.

A  month ago company filed its S-1 statement with the U.S. Securities and Exchange Commission where they revealed their financial data for the first time. Unity has introduced new pricing of their shares which is higher than earlier, now they listed the prices of shares $44 to $48 which was $34 to $42 earlier.

Unity is one of the most popular technologies in gmaing sector, according to data more than 1.5 billion devices are currently running an software built by its tools. Reports said that Unity game engine is used in over 50% of Mobile games,Console games and PC games. In 2018 total revenue of company was $380.7 million where company was in loss of $131.6 million.This loss got bigger in 2019 company reported $163.2 Million loss on revenue of $541.8 million. In current year they released a report for the first six month  where they mentioned $54.1 million loss on revenue of $351.3 million.

“Unity  comes with a different approach where company have their  own management team to choose the investors/buyers of shares  rather than the investment bankers choose , the company will look into the initial allotment of the shares. Company will select the investors who wanted to hold the stock for the longer term with the usual practice of an IPO was to be data-driven. We wanted to select investors we were proud to partner with.”

Unity CEO John Riccitiello

On this remarkable  occasion, Unity had its 3,379 employees participate in a virtual 3D bellringing on the New York Stock Exchange. Unity has faced tough competition from Tencent owned Unreal Engine , the reason behind success of Unreal Engine is Fortnite game by Epic which is run on Unreal Engine.Epuc Games is currently facing a tough situation where they are stucked on a lawsuit with the Apple , Due to this  lawsuit Apple removed Fortnite from Apple app Store and it will not support on Mac too from later this month.

About Unity company :

San Francisco based Unity Software is an American video game and software development company. Unity Software is doing business as Unity Technologies which is founded in Denmark in 2004. Unity Technologies is developer of Unity game engine which is being used in  uses millions of Mobile devices ,PC and console.

Unity has a large number of developers across 190 countries, who starts 150,000 new projects daily. In one month  Unity has 3 billion downloads with customers in apps and games .Unity has raised $150 million at $6 billion valuation in May 2019. Unity has been investing more than $450 million in research and development process within 2 years. Big shareholders in Unity are Sequoia Capital which owns 24.1%, J.A. Technologies have 8.2% and Silver Lake Partners with 18.2% shares.

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