Unity Technologies raises more than $1.3 billion in IPO at $13.6 billion valuation

Unity Technologies has raised more than $1.3 billion in an initial public offering (IPO) at a $13.6 billion valuation. Unity makes tools for developers to create games and other computer-generated entertainment, and its game engine runs thousands of console, mobile, and PC titles.

The San Francisco-based Unity filed its S-1 statement with the U.S. Securities and Exchange Commission a month ago, revealing its financials for the first time. Some people were alarmed at how much money the company was losing, but others were impressed with the long-term stability of its subscription base. Earlier this week, Unity priced its shares in the $44-to-$48 a share range, higher than an earlier $34-to-$42 a share range, as feedback from potential investors was better than expected. It opened at $52 a share under the symbol $U.