AppLovin

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; DSP AppDiscovery; and SparkLabs creative studio.[4] The company also invests in various mobile game publishers.

History

AppLovin was founded in 2012 by Adam Foroughi, John Krystynak, and Andrew Karam.[5][6] 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.[7]

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.[8][9] The company was ranked #10 on the 2016 Deloitte Fast 500 North America list, and again in 2018.[10][11] Foroughi was recognized on the 2017 San Francisco Business Times "40 Under 40" list.[12]

In July 2018, AppLovin launched Lion Studios, which works with mobile developers to publish and promote their games.[13] 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.[14]

In 2020, it added partnerships with Adjust and Facebook Audience Network to its in-app bidding for developers, and was ranked by Pocket Gamer on its list of Top 50 Mobile Game Makers.[15] That year, 49% of the company's revenue came from businesses using its software and 51% from consumers making in-app purchases.

In March 2021, the company filed for an IPO to raise $100 million.[16] 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.[17]

In July 2025, Barron's reported that the company was valued at $123 billion.[18]

On September 22, 2025, Applovin was added to the S&P 500 index.[19][20]

Acquisitions and divestments

AppLovin also has also invested in software development companies, and various mobile game publishers.[21] In October 2014, it purchased the German mobile ad-network Moboqo.[22]

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.[23][24][25]

In September 2018, AppLovin acquired the in-app bidding SSP MAX.[26]

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 February 2025, Applovin agreed to vest its mobile games development business to a private company for $900 million, including $500 million in cash, and 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] completed on June 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, The Southeast Asian Money LaunderingSyndicate’s NASDAQ "Laundromat",[45] 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.[46] 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

• IronSource
• InMobi
• AdMob
• List of advertising technology companies
• List of unicorn startup companies

External links