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Unity Technologies officially files to go public with an IPO

By - | Views: 10,338

Unity Technologies, creator on the Unity game engine has now formally applied for IPO (initial public offering) and the documents are pretty revealing.

In these documents, they do show just how popular they are with the Unity game engine. They mentioned that they had approximately 1.5 million "monthly active creators" across over 190 countries. That's seriously impressive, with a lot of people hooked into the Unity ecosystem. That was clear though, considering the amount of games releasing all the time powered by Unity.

Their revenue continues to grow as well from "$380.8 million to $541.8 million for the years ended December 31, 2018 and 2019, respectively, representing year-over-year growth of 42%, and from $252.8 million to $351.3 million for the six months ended June 30, 2019 and 2020, respectively, representing period-over-period growth of 39%". So they're clearly pulling in plenty but the numbers aren't entirely rosy though, they're taking on plenty of losses too. Quoting again from the documents they had "net losses for the years ended December 31, 2018 and 2019, and six months ended June 30, 2019 and 2020, of $131.6 million, $163.2 million, $67.1 million and $54.1 million, respectively, which included $20.9 million, $44.5 million, $14.8 million and $21.7 million, respectively, of stock-based compensation expense".

Even in their risk factor summary bullet-point list, they make it very clear that they may not "achieve or sustain profitability in the future". That's probably quite common to read in such documents but still not exactly a good look as a whole, doesn't fill with any sort of confidence.

If you're a Unity game developer, this is probably going to be quite concerning. Having more investors means many more people to keep happy. They key point is, will that result in a healthier company and a better game engine? Eyebrows must be raised from many game developers I'm sure. Thankfully, there's quite a lot of choice now when it comes to the tech you can use to design games. This includes various high-quality free and open source tech too from full games engines to cross-platform middleware including:

…and so on. That's a really small list, the point is there's loads of choice. I don't want to sound alarmist and certainly not an intention, the point is to keep options open and be aware of what else is available.

Feel free to comment on how you feel about the IPO and offer suggestions for alternatives if you wish to as well.

Article taken from GamingOnLinux.com.
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17 comments
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Swiftpaw 26 Aug
Quoting: CFWhitmanA company becoming a public corporation is pretty much never a good thing for its customers. This is especially the case for non mainstream customers. It's like when Snapple (at the time a regional fruit drink company in the U.S.) was bought up by a large corporation: No more strawberry lemonade. This is beside the fact that private businesses are as moral as their management, while public corporations gradually become as moral as their bank accounts.

Spoiler, click me
If I am sad, I eat potato chips.
Yes, private businesses are more capable of being moral which is the only way capitalism has survived as long as it has. The problem is capitalism incentivizes greed and thus corruption and the sociopaths rise to the top and are rewarded for being greedy, for lying, and for criminality. They corrupt any governments that attempt to stop them while the "ma and pa shops" are bought out, corrupted, or destroyed in various horrible ways.

When you set up economic systems that reward greed, you get corruption of anyone who tries to stop them from doing horrible things, anarchy in the sense that laws stopping them from doing whatever they want are removed, and fascism as they corrupt governments who try to stop them into giving them power and money instead (in the form of "bail outs", and literally running a country like with the U.S. and other countries).
Swiftpaw 26 Aug
Quoting: ageres
Quoting: SwiftpawUntil other economic systems or anti-corruption governments become a thing, Linux will continue to be relegated to socialized support from around the Internet from random individuals and groups.
link
How is Russia anti-corruption? Russia is an oligarchy/kleptocracy and extremely corrupt, lol.
ageres 26 Aug
Quoting: SwiftpawHow is Russia anti-corruption? Russia is an oligarchy/kleptocracy and extremely corrupt, lol.
I hinted at The Great Linux Revolution, not at Russia.
chr 26 Aug
Quoting: Swiftpaw
Quoting: ageres
Quoting: SwiftpawUntil other economic systems or anti-corruption governments become a thing, Linux will continue to be relegated to socialized support from around the Internet from random individuals and groups.
link
How is Russia anti-corruption? Russia is an oligarchy/kleptocracy and extremely corrupt, lol.

The image is not directly connected to Russia nor corruption. It says:

In unity - victory
Proletariat of all countries, unite!

It remained unclear to me whether ageres intended this in support of such ideals or to mock them.
Swiftpaw 26 Aug
Quoting: ageres
Quoting: SwiftpawHow is Russia anti-corruption? Russia is an oligarchy/kleptocracy and extremely corrupt, lol.
I hinted at The Great Linux Revolution, not at Russia.
Oh, okay, well of course I'd love a Linux revolution too, but the point I was making is that everything that is controlled by capitalism has an interest in taking away your freedom and putting more barriers in front of you so that you're forced to pay to get over them, so the opposite of what Linux does. Microsoft's continued attacks against Linux where ever Linux comes into contact with capitalist-controlled structures has slowed down that revolution.

The Linux revolution will happen eventually, but we could really use some corruption-resistant governments and alternative economic systems supporting us besides sometimes Germany and random Kickstarter projects.
Swiftpaw 26 Aug
Quoting: chr
Quoting: Swiftpaw
Quoting: ageres
Quoting: SwiftpawUntil other economic systems or anti-corruption governments become a thing, Linux will continue to be relegated to socialized support from around the Internet from random individuals and groups.
link
How is Russia anti-corruption? Russia is an oligarchy/kleptocracy and extremely corrupt, lol.

The image is not directly connected to Russia nor corruption. It says:

In unity - victory
Proletariat of all countries, unite!

It remained unclear to me whether ageres intended this in support of such ideals or to mock them.
Gotcha. As for Russia, if only Russia abided by those principles, but instead they've become the opposite: a bourgeoisie-controlled authoritarian kleptocratic oligarchy. Perhaps more of a dictatorship at this point.

But I digress. :)
F.Ultra 26 Aug
QuoteEven in their risk factor summary bullet-point list, they make it very clear that they may not "achieve or sustain profitability in the future". That's probably quite common to read in such documents but still not exactly a good look as a whole, doesn't fill with any sort of confidence.

There is no reason to read anything into that sentence what so ever, it's just the normal CYA (cover your own ass) that appears in every single prospect. Due to the legal system, if a company would have left out that sentence in a prospect then a shareholder would be able to file suit if the company didn't increase profits every single year.

What should be read more careful is the reason why they are going public, aka what is the rationale behind them now needing a huge investment, or the fact that they made a loss of $163.2M last year which is an increase from 2018 ($131.6M) and in total they have lost $569.3M since launch.
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