The American video-game software developer saw its stock surge as much as 44 per cent from an IPO price of US$52, within hours of going public on the New York Stock Exchange. Unity’s market cap is now almost US$20 billion, nearly US$7 billion more than it was valued at just a day ago. It closed up 31.44 per cent. (The Logic, VentureBeat)

Talking point: Unity’s IPO caps one of the most active and successful weeks for software IPOs in 2020. On Wednesday, cloud-based data company Snowflake saw its stock more than double upon going public, raising nearly US$3.4 billion and bringing its market cap to US$70 billion. Unity has been a leader in the video-game software industry, responsible for powering some of the most popular games like Pokemon Go and Iron Man VR. This particular public offering used a new IPO pricing method developed by Goldman Sachs: prospective investors were asked how many shares they intended to buy and at what price, before Unity made the ultimate decision on the offering price. The idea behind the strategy was to better gauge what investor demand is for a company, before determining at what price its stock should trade.