Video game unicorn Unity is preparing for IPO in 2020
? Potential IPO
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San Francisco-based video game engine creator Unity Technologies is working with financial advisers to prepare for an IPO on the U.S. stock exchanges this year.
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According to Bloomberg, the company has hired Goldman Sachs Group Inc. to lead the offering. Unity’s plans aren’t final and the timing could still change.
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In May 2019, Unity has raised a $150 million Series E funding round putting the company’s pre-money valuation to $6 billion. The company has previously reported $500m net revenue in 2019.
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Over the last three years, Unity has been very active in scaling its business and acquiring businesses worldwide (9+ acquisitions).
?Author’s Note
In 2019, Unity has already reported that it was targeting an IPO in the first half of 2020, but because of the high volatility in the financial markets during February – April 2020, the company decided to postpone its IPO. While stocks of video game companies demonstrated high growth over the last months, it is unclear whether 2020 is a good year for Unity’s IPO. Global financial markets are still recovering from the COVID-19 crisis, and the consequences of the coronavirus pandemic are yet to be discovered.
