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Unity hits $18bn market cap following IPO

Unity hits $18bn market cap following IPO

Engine firm Unity was worth a cool $18bn at the end of its first day on Wall Street.

The company made its debut on the New York Stock Exchange under the "U" ticker symbol on Friday, September 18th. The night before it went public, Unity shares were worth $52, which was above the $44 to $48 that the firm had initially anticipated – itself an increase from the $34 to $42 it was initially asking for.

Unity went public with stock worth $75. Before its IPO, the company raised $1.3bn, selling 25m shares at $52.

“I don't know if other companies will follow, but we're just happy that our investors seem happy,” Unity CFO Kim Jabal told the FT. “It worked for us and we're pleased with the outcome.”

Rumours that Unity was going public have been circulating in the industry for years now. The firm finally announced its intention to float in August when it filed its S1 with the United States Securities and Exchange Commission (SEC).


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PCGamesInsider Contributing Editor

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site PCGamesInsider.biz. In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for GamesIndustry.biz, VGC, Games London, The Observer/Guardian and Esquire UK.

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