AppLovin and IPO application

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Ella Jones, Deputy Editor In Chief

Date: 10.03.2021

AppLovin's business is split between games, which make much of their money from the sale of virtual items, and marketing tools that other game developers use for app discovery and promotion. Last year, 49% of revenue came from businesses using its software and 51% from consumers making in-app purchases.

In its IPO prospectus AppLovin said revenue in 2020 jumped 46% to $1.45 billion.

Founded in 2011, AppLovin was initially focused on helping mobile apps get discovered and make money. AppLovin then sold a minority stake in 2018 to KKR, which valued the company at $ 2 billion. Since then, AppLovin has been on a buying spree, primarily to become a force in game development.

The company created a publishing division and bought up studios, including Machine Zone, maker of Game of War: Fire Age and World War Rising. It also bought Magic Tavern, creator of puzzle game Project Makeover, and Peoplefun, developer of Wordscapes. AppLovin said in its prospectus that it’s invested $ 1 billion across 15 acquisitions and partnerships since 2018.

The company now has over 200 free-to-play mobile games from 12 studios, and says its apps are used by almost 32 million people a day.

Last month, AppLovin acquired Adjust, a German app distribution and analytics company, for $ 1 billion in cash and stock. Adjust has 500 employees, adding to the 2,000 that AppLovin had at the end of last year, across its core business and acquisitions.

by Ella Jones | Linkedin

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