AppLovin raised $1.8 billion in an IPO at a valuation just below $30 billion
AppLovin marketing platform has finally entered the stock exchange. As part of the initial public offering, the company raised $1.8 billion, and its valuation approached $30 billion.AppLovin listed its shares on the NASDAQ stock exchange at a price of $80 apiece.
The Financial Times reports that the company’s market value was $28.6 billion. The publication also calls the last IPO one of the largest this year.
However, this result is slightly lower than the forecasts that were published a few days ago. At that time, it was assumed that AppLovin would be able to get $2.13 billion with an estimate of over $30 billion.AppLovin’s
main investor remains the private equity firm KKR. In 2018, she invested $400 million in the marketing platform at a valuation of $2 billion. During the IPO, KKR put up for sale 2.5 million shares, while retaining 67.4% of the votes in the company.Now AppLovin is not only a marketing platform. The company owns 12 studios and operates more than 200 games. Among the developers who are part of AppLovin are Peoplefun (the creators of Wordscapes), Magic Tavern (the developers of Project Makeover) and Machine Zone (the authors of the Game of War strategy).
In total, AppLovin has conducted 15 M&A transactions worth $1.1 billion since 2018. And in February, the company announced the purchase of Adjust for $1 billion.
