That’s a tough business at the moment, and it’s become more uncertain with Apple’s recent decision to retire its Identifier for Advertisers (IDFA), which is akin to a cookie that helps with targeted advertising. While Unity makes money on subscriptions, it is also very dependent on advertising for revenue. “We wanted to select investors we were proud to partner with,” Riccitiello said. The departure from the usual practice of an IPO was to be data-driven and select the investors who wanted to hold on to the stock for the longer term. Unity CEO John Riccitiello said in a presentation before the IPO that the company referred to the event as a UPO, where Unity’s own management team chose who got the initial allotment of the shares, rather than the investment bankers choosing the investors. Unity’s motto is “the world is a better place with more creators in it.” To mark the occasion, Unity had its 3,379 employees participate in a virtual 3D bellringing on the New York Stock Exchange on Friday morning. Games made in Unity include Fall Guys: Ultimate Knockout, Township, Ori and the Will of the Wisps, and Oddworld: Soulstorm. Unity believes its addressable market is $29 billion across games and entertainment such as TV commercials or animated films. Its rivals include Epic Games’ Unreal Engine, as well as more specialized engines such as Cocos2d. Unity is one of the most important technologies in gaming, as software built with its tools runs on more than 1.5 billion devices. Unity said that its platform is used in over 50% of mobile games, PC games, and console games.
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