Unity CEO John Riccitiello speaks on stage during Day 1 of TechCrunch Disrupt SF 2018 at Moscone Center on September 5, 2018 in San Francisco, California.
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Unity Software, a company that produces a 3D gaming engine capable of playing video games and other programs, filed for release Monday. The company plans to go public on the New York Stock Exchange under the ticker symbol U. Goldman Sachs and Credit Suisse are the leading underwriters on the stock sale.
The timing of the business is good. Not only have US market indices returned to records, but one of Unity’s top competitors, Epic Games, is also suing Apple in court over a dispute over e-commerce features in Epic’s own Fortnite game that Apple’s Apple Store rules wrote. The controversy could jeopardize Epic’s Unreal Engine, which rivals Unity’s technology.
Unity’s technology is widely used. In 2019, more than half of the top 1000 games in the App Store and Google’s Play Store were built with Unity, the company said in its submission Monday. In addition to offering the game engine for development, Unity has revenue from services that can help companies monetize their content, including through advertising. Customers include BMW, EA, Microsoft, Niantic, Sony, Tencent and Zynga.
The company had a net loss of $ 163.2 million to $ 541.8 million in revenue in 2019. While the loss increased from $ 131.6 million the year before, revenue grew by 42%. For the first six months of 2020, Unity was wound up with a net loss of $ 54.1 million in revenue of $ 351.3 million, with losses limited to $ 67.1 million a year earlier.
Unity was founded in 2004 and is based in San Francisco, with 3,379 employees as of June 30. Investors include DFJ, Sequoia Capital and Silver Lake Partners.
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