[qwytw]

Massive over hiring and random acquisitions are there main reasons why are they here. If they hadn't increased their headcount by 5k and continued focusing on their core products the company would already be profitable (even if revenue would be lower).

At this point it's too late to significantly cut costs, so yeah seems like they pushed themselves into a corner.

The sad part is that it was already perfectly obvious where were they heading after they IPO'ed.

[ambyra]

Seems like they’re trying to fund their unprofitable acquisitions by harming their profitable core. They could have spent that money making unity better/more stable. I hope they make it out of this. The unity editor is pretty great.

[vintermann]

> They could have spent that money making unity better/more stable.

Public shareholders don't like that. It's not good enough.

[qwytw]

It's not at all obvious to me investors who bought their stock after they IPO wanted any of this.

The board and upper management together with their VC backers (they also gave Unity a significant loan to fund the IronSource acquisition which will be exchanged to stock in a few years) seem to be the main driving force behind this.

The only way most public shareholders can express their approval is by buying or selling stock and looking at the share price over the last 1.5 years they don't seem to approve that much.

[usrusr]

Trying to run a publicly traded company like a VC bonfire - what could possibly go wrong.

[plagiarist]

Why would they even IPO if they are bleeding money as fast as they were? Was it one of those SPAC pyramid scams just to get fresh money from people?

[gmerc]

because early VCs wanted someone else to hold the bag

[delfinom]

The fact that people still don't understand that this is what any IPO is about is funny and sad.

[qwytw]

Well because profitability was just a few years away according to their prospectus.

Which to be fair wasn't that inaccurate. Had they stopped expanding like crazy for a year or so the company would've been profitable (with minimal damage to their core product, if not the other way around).