AppLovin files for IPO after its revenue hit $1.45 billion in 2020

Mobile marketing platform AppLovin announced its decision to go public. The company filed for IPO, as its revenue grew to $1.45 billion in 2020.

AppLovin filed for IPO on NASDAQ, according to InvestGame. However, neither its valuation nor the sum it’s expecting to raise remain undisclosed.

If the US Securities and Exchange Commission approves the filing, AppLovin will go public this year.

AppLovin remains one of the biggest marketing platforms, constantly increasing its earnings. In 2020, the company’s revenue increased 46% year-over-year and hit $1.45 billion. However, AppLovin reported a net loss of $125.9 million last year.

The company says that it probably won’t reach profitability in the next few years, because it will continue to invest in technology, increase operational expenses, and stay active in the M&A market.

Since 2018, AppLovin has spent $1 billion on 15 acquisitions. The list of the studios it has invested in includes Machine Zone, Redemption Games, Clipwire Games, and Geewa. This February, Bloomberg also reported AppLovin’s plans to buy analytics company Adjust for $1 billion.