AppLovin

Last updated
AppLovin Corporation
Company type Public
Industry Mobile technology
Founded2012;14 years ago (2012)
Founders
Headquarters Stanford Research Park,
Palo Alto, California
,
U.S.
Area served
Worldwide
Key people
Adam Foroughi (CEO)
RevenueIncrease2.svg US$4.71 billion (2024)
Increase2.svgUS$1.87 billion (2024)
Increase2.svgUS$1.58 billion (2024)
Total assets Increase2.svgUS$5.87 billion (2024)
Total equity Decrease2.svgUS$1.09 billion (2024)
Number of employees
1,563 (2024)
Subsidiaries MoPub
Website applovin.com
Footnotes /references
[1] [2]

AppLovin Corporation is an American mobile technology company headquartered in Palo Alto, California. [3] Founded in 2012, the company helps developers market, monetize, analyze and publish their apps through its mobile advertising, marketing, and analytics platforms, SSP MAX; [4] DSP AppDiscovery; and SparkLabs creative studio. [5] The company also invests in various mobile game publishers.

Contents

History

AppLovin was founded in 2012 by Adam Foroughi, John Krystynak, and Andrew Karam. [6] [7] Foroughi stated that the AppLovin name came from Bloglovin', a content organizing company, contrary to reports of a homage to the Christopher Mintz-Plasse character from the 2007 film Superbad . [8]

The company operated in stealth mode until 2014, raising $4 million in financing from angel investors, Streamlined Ventures and the Webb Investment Network. [3] Before emerging from stealth mode, AppLovin acquired customers, including Opentable and Spotify. [9] [10] The company was ranked #10 on the 2016 Deloitte Fast 500 North America list, and again in 2018. [11] [12] Foroughi was recognized on the 2017 San Francisco Business Times "40 Under 40" list. [13]

In July 2018, AppLovin launched Lion Studios, which works with mobile developers to publish and promote their games. [14] A convertible note facility previously received from Hontai Capital was fully refinanced in August 2018, after AppLovin raised a significant credit facility from U.S.-based investors. Hontai retains a small equity stake in AppLovin. That same month, the private equity firm KKR & Co. Inc. acquired a minority stake in AppLovin for $400 million. [15]

In 2020, it added partnerships with Adjust and Facebook Audience Network to its in-app bidding for developers,[ citation needed ] and was ranked by Pocket Gamer on its list of Top 50 Mobile Game Makers. [16] That year, 49% of the company's revenue came from businesses using its software and 51% from consumers making in-app purchases. [17]

In March 2021, the company filed for an IPO to raise $100 million. [18] On April 15, 2021, AppLovin became a public company, trading on the Nasdaq under the ticker APP; it began trading at US$70 per share, with a total valuation of approximately US$24 billion. [19]

In July 2025, Barron's reported that the company was valued at $123 billion. [20]

On September 22, 2025, Applovin was added to the S&P 500 index. [21] [22]

Acquisitions and divestments

AppLovin also has also invested in software development companies, and various mobile game publishers. [17] In October 2014, it purchased the German mobile ad-network Moboqo. [23]

On September 26, 2016, it was reported that AppLovin had agreed to be acquired by the Chinese private equity firm, Orient Hontai Capital, for $1.42 billion; the acquisition deal was subsequently abandoned for debt investment after opposition to the plans from CFIUS. [24] [25] [26]

In September 2018, AppLovin acquired the in-app bidding SSP MAX. [4]

In 2019, the company acquired SafeDK, a software development kit management platform for ad quality, performance, and stability in mobile apps. [27] That year, it also invested in several mobile game studios including PeopleFun, Firecraft Studios and Belka Games. [28]

In February 2020, AppLovin invested in the mobile game studios Geewa, and Redemption Games, and acquired Machine Zone (MZ). [29]

In February 2021, AppLovin announced the acquisition of mobile app measurement company Adjust. [30] On October 6, 2021, AppLovin announced the acquisition of mobile monetization company MoPub from Twitter for $1.1 billion. [31] The sale was finalized on January 3, 2022. [32]

On August 9, 2022, AppLovin made an offer to buy Unity Technologies in exchange for $17.54 billion of stock. The merger proposal would result in Unity CEO John Riccitiello becoming the CEO of the combined entity. [33] AppLovin's bid would require Unity to terminate its recent deal to merge with ironSource. [34] Later that month, Unity's board rejected the offer and committed to complete its acquisition of ironSource. [35]

In April 2025, the company bid to acquire the United States subsidiary of TikTok after the US government required TikTok to divest from Chinese company ByteDance or be banned. [36] [37]

Announced in bruary 2025, ;pplovin saagreedito vest its mobile games development business to a private company for $900 million a,nincluding $500 million in cash, d focus on its advertising business. [38] The sale, which includes Lions Studios, [39] to London-based Tripledot Studios was adjusted in May 2025, to $400 million in cash and a 20% stake in Tripledot, [40] completineduon ne 30, 2025, for a total value of $800 million. [39] [41]

Controversies

On February 26, 2025, short seller firm Fuzzy Panda Research alleged AppLovin committed ad fraud and illegally tracked children and served them sexual ads. [42] On October 6, 2025, Bloomberg reported the SEC was looking into AppLovin regarding their data-collection practices, [43] though remains unconfirmed, in 2026, by the SEC. [44]

CapitalWatch accused AppLovin shareholders of committing financial crimes in concert with Prince Group founder Chen Zhi, in a report published in January 2026, [45] The Southeast Asian Money LaunderingSyndicate’s NASDAQ "Laundromat", [46] Following a demand letter for retraction from AppLovin, CapitalWatch issued an apology and retracted some passages on February 4, though without removing the January report from its website. [45] While characterized in media as a short-seller report, CapitalWatch stated that it is not a short seller, but an independent media outlet with no financial stake in AppLovin. [47]

See also

References

  1. ↑ "AppLovin Corp. 2024 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 27, 2025. Retrieved February 28, 2025.
  2. ↑ "AppLovin on Forbes America's Most Promising Companies List". Forbes. Archived from the original on 11 September 2019. Retrieved 26 September 2016.
  3. 1 2 Schubarth, Cromwell (26 September 2016). "Fast Growing Silicon Valley Ad Tech Startup Sells At 'Unicorn' Valuation". Silicon Valley Business Journal. Archived from the original on 12 September 2017. Retrieved 16 October 2016.
  4. 1 2 "AppLovin Acquires MAX In A Bid To Spur In-App Header Bidding Adoption - Ad Exchanger". 5 September 2018. Archived from the original on 2021-01-20. Retrieved 2021-02-10.
  5. ↑ "AppLovin Integrates Performance-Based Buying for Connected TV into AppDiscovery Platform". Display Daily. 2023-05-05. Retrieved 2026-02-11.
  6. ↑ "AppLovin". Forbes. Archived from the original on 11 September 2019. Retrieved 16 October 2016.
  7. ↑ Ha, Anthony (31 July 2014). "Mobile Ad Startup AppLovin Says It Has Reached A $100M Revenue Run Rate". TechCrunch. Archived from the original on 15 November 2019. Retrieved 26 September 2016.
  8. ↑ "'That shaped me': How an Iranian immigrant and tech CEO built his American Dream - Yahoo Finance". Archived from the original on 2021-01-18. Retrieved 2021-02-10.
  9. ↑ Bort, Julie (26 August 2016). "AppLovin Could Soon Be Selling Itself for $1.5 Billion". Business Insider. Archived from the original on 30 June 2018. Retrieved 16 October 2016.
  10. ↑ Byrne Reilly, Richard (4 June 2014). "Mobile Marketer AppLovin Emerges From Stealth With 300 Customers". VentureBeat. Archived from the original on 18 November 2016. Retrieved 16 October 2016.
  11. ↑ "2016 Winners by rank" (PDF). Deloitte. Archived from the original (PDF) on 21 November 2016. Retrieved 23 September 2017.
  12. ↑ "2018 Technology Fast 500" (PDF). Deloitte. 2018-12-07. Archived (PDF) from the original on 2021-01-13. Retrieved 2021-02-10.
  13. ↑ "Forty Under 40: Adam Foroughi, AppLovin - San Francisco Business Times". Archived from the original on 2017-05-17. Retrieved 2021-02-10.
  14. ↑ Rebekah Valentine. "AppLovin launches publishing division Lion Studios". GamesIndustry. Archived from the original on 2019-06-16. Retrieved 19 January 2019.
  15. ↑ Joshua Franklin (16 July 2018). "KKR agrees to buy stake in AppLovin at $2 billion valuation". Reuters. Archived from the original on 28 July 2018. Retrieved 18 January 2019.
  16. ↑ "Revealed: The movers, shakers, and moneymakers". Pocket Gamer. September 8, 2020. Archived from the original on April 15, 2021. Retrieved April 14, 2021.
  17. 1 2 "AppLovin joins parade of video game companies headed for public market after 2020 sales hit $1.45 billion". CNBC. April 15, 2021. Archived from the original on April 21, 2021. Retrieved April 15, 2021.
  18. ↑ "AppLovin joins parade of video game companies headed for public market after 2020 sales hit $1.45 billion". CNBC. March 2, 2021. Archived from the original on March 3, 2021. Retrieved March 3, 2021.
  19. ↑ "Mobile gaming company AppLovin starts trading at $70, giving it a market cap of about $24 billion". CNBC. April 15, 2021. Archived from the original on April 15, 2021. Retrieved April 15, 2021.
  20. ↑ Bary, Andrew. "Robinhood, AppLovin Could Soon Join S&P 500 as Hess Deal Creates Opening in Index". Barron's.
  21. ↑ Novet, Jordan (2025-09-05). "AppLovin and Robinhood added to S&P 500". CNBC. Retrieved 2025-09-05.
  22. ↑ "Robinhood, AppLovin, EMCOR joining S&P 500. What does EMCOR do?". Yahoo Finance. Archived from the original on 2025-11-29. Retrieved 2026-02-11.
  23. ↑ Ha, Anthony (9 October 2014). "Mobile Ad Startup AppLovin Acquires German Ad Network Moboqo". TechCrunch. Archived from the original on 17 May 2019. Retrieved 16 October 2016.
  24. ↑ Baker, Liana B. "Exclusive: AppLovin tweaks Chinese takeover deal after U.S. pushback". Reuters. Reuters. Archived from the original on 2020-04-18. Retrieved 2018-01-03.
  25. ↑ "Exclusive: AppLovin to Be Acquired by Chinese Investor for $1.4 Billion". Forbes. Archived from the original on 26 December 2019. Retrieved 26 September 2016.
  26. ↑ Ha, Anthony (26 September 2016). "AppLovin is Selling a Majority Stake to Orient Hontai Capital for $1.4B". TechCrunch. Archived from the original on 8 July 2019. Retrieved 16 October 2016.
  27. ↑ Ha, Anthony (July 9, 2019). "AppLovin acquires SafeDK to improve brand safety". TechCrunch. Archived from the original on April 15, 2021. Retrieved April 14, 2021.
  28. ↑ Franklin, Joshua (September 5, 2019). "Mobile marketing firm AppLovin invests in game studios". Reuters. Archived from the original on April 15, 2021.
  29. ↑ Nesterenko, Oleg (February 12, 2020). "AppLovin invests in Clipwire Games and Geewa". Game World Observer. Archived from the original on April 15, 2021. Retrieved April 14, 2021.
  30. ↑ "AppLovin to buy mobile app measurement startup Adjust". Mobile Marketing Magazine. March 2, 2021. Archived from the original on February 4, 2021. Retrieved March 3, 2021.
  31. ↑ "AppLovin to Acquire MoPub Business From Twitter". Mobile Marketing Magazine. October 6, 2021. Archived from the original on October 6, 2021. Retrieved March 3, 2021.
  32. ↑ Perez, Sarah (January 3, 2022). "Twitter completes sale of MoPub to AppLovin for $1.05 billion". TechCrunch. Archived from the original on January 4, 2022. Retrieved January 3, 2022.
  33. ↑ "AppLovin Proposes $17.5 Billion Deal to Buy Unity Software". WSJ. August 9, 2022. Archived from the original on August 9, 2022. Retrieved August 9, 2022.
  34. ↑ Kokalitcheva, Kia (August 9, 2022). "AppLovin bids $17.5 billion to acquire game engine company Unity". Axios . Archived from the original on August 10, 2022. Retrieved August 10, 2022.
  35. ↑ Balu, Nivedita; Hu, Krystal; Mathews, Eva (August 15, 2022). "Unity rejects AppLovin's takeover bid, to stick with ironSource buyout". Reuters . Archived from the original on 2022-08-16. Retrieved 2022-08-16.
  36. ↑ Solon, Olivia. "AppLovin Short Sellers Discover Mobile Ad Tech's Ugly Underbelly". Bloomberg.
  37. ↑ Hadad, CJ. "AppLovin can offer TikTok 'much stronger bid than others,' CEO says". CNBC.
  38. ↑ Phua, Rachel (February 12, 2025). "AppLovin Plans to Sell Mobile Games Unit for $900 Million". Bloomberg News.
  39. 1 2 "Game developer Tripledot acquires AppLovin's mobile gaming portfolio for $800 million". Reuters. 2025-05-08.
  40. ↑ "AppLovin Sales Jump, Sells Mobile-Games Unit to Tripledot". Bloomberg.com. Archived from the original on 2025-09-01. Retrieved 2026-02-11.
  41. ↑ Muhammad, Isa (2025-07-01). "Tripledot completes $800m acquisition of AppLovin game studios". www.pocketgamer.biz. Retrieved 2026-02-11.
  42. ↑ Research, Fuzzy Panda (2025-02-26). "AppLovin (APP) – Formers Allege Ad Fraud; Is DTC Hype Actually 'Stealing' Meta's Data; Illegal Tracking of Children & Serving Sex Ads to Kids". Fuzzy Panda Research. Retrieved 2025-10-09.
  43. ↑ Solon, Olivia (2025-10-06). "AppLovin Probed by SEC Over Its Data-Collection Practices". Bloomberg.com. Retrieved 2025-10-09.
  44. ↑ Miller, Leo (January 30, 2026). "AppLovin Faces Money-Laundering Claims—Here's What's Missing". MarketBeat. Retrieved 2026-02-11.
  45. 1 2 Murti, Lola (2026-02-09). "AppLovin's stock pops 14% after short seller CapitalWatch apologizes, retracts report on shareholder". CNBC. Archived from the original on 2026-02-09. Retrieved 2026-02-11.
  46. ↑ "The Southeast Asian Money Laundering Syndicate's NASDAQ "Laundromat"" (PDF). CapitalWatch.com. February 4, 2026. Retrieved February 11, 2026.
  47. ↑ Murti, Lola (2026-01-27). "AppLovin demands short-seller CapitalWatch retract 'conspiratorial' report". CNBC. Retrieved 2026-02-11.
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