AppLovin's valuation during the IPO may exceed $30 billion
Last month, the AppLovin marketing platform filed for an IPO. Now there are details about the goals that she wants to achieve after going public. The company expects its valuation to exceed $30 billion.AppLovin plans to put 25 million shares on the NASDAQ stock exchange, according to the InvestGame portal.
The price varies from $75 to $85 apiece, and the company expects to receive $2.13 billion from their sale.
Reuters reports that Morgan Stanley, J.P. Morgan, BofA Securities and Citigroup will act as underwriters. It is also known that the CEO, financial director AppLovin and investor KKR Denali Holdings will retain all Class B shares — this will give them more than 50% of the votes on the company’s board.
The date of the IPO is still unknown. AppLovin filed an application with the U.S. Securities and Exchange Commission in March, but its decision has not yet taken effect.
In 2020, the company significantly increased its revenue, which amounted to $1.45 billion. At the same time, it suffered losses of $125.9 million.
This is
largely due to the fact that AppLovin has been actively investing in other companies in recent years. Since 2018, it has conducted 15 M&A transactions worth over $ 1.1 billion, and in February of this year agreed to purchase Adjust for $1 billion.