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Game development platform Unity Software files for an estimated $1 billion IPO

August 24, 2020

Unity Software, which provides a real-time 3D video game development platform, filed on Monday with the SEC to raise up to $100 million in an initial public offering. However, this is likely a placeholder for a deal we estimate could raise up to $1 billion.

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Unity states that it is the world's leading platform for creating and operating interactive, real-time 3D content. The company's platform allows users to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. As of June 30, 2020, it had approximately 1.5 million monthly active creators in over 190 countries and territories worldwide.

The San Francisco, CA-based company was founded in 2004 and booked $640 million in revenue for the 12 months ended June 30, 2020. It plans to list on the NYSE under the symbol U. Unity Software filed confidentially on May 20, 2020. Goldman Sachs, Credit Suisse, BofA Securities, Barclays and William Blair are the joint bookrunners on the deal. No pricing terms were disclosed.