U - Unity Takes a Painful Step as Losses Pile Up
2024-01-10 10:30:00 ET
Unity (NYSE: U) , a software company best known for developing the Unity game engine, is in a tough spot. Its current business model isn't sustainable, and a recent pricing change was so poorly communicated that the company was forced to largely roll it back.
Long-time CEO John Riccitiello stepped down in the wake of that disaster , with the company bringing in James Whitehurst, the former CEO at IBM 's Red Hat, as interim CEO.
While interim CEOs often don't make big changes, Whitehurst is following a different playbook. He set the stage in the third-quarter letter to shareholders, saying that the company was trying to do too much.
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Unity Takes a Painful Step as Losses Pile Up