Unity’s stock rises 32% in first-day trading to $18.1 billion value
Trading under the symbol U, the stock opened on Friday morning at $52 a share, and the market value rose to $18.1 billion by the end of the day. Epic Games is still private, but it has raised money recently. In 2019, Epic Games reported $730 million in earnings on revenue of $4.2 billion, according to information obtained by GamesBeat. Its rivals include Epic Games’ Unreal Engine, as well as more specialized engines such as Cocos2d. Unity believes its addressable market is $29 billion across games and entertainment such as TV commercials or animated films.