AppLovin, which provides a platform for marketing and monetizing mobile games, announced terms for its IPO on Wednesday.
The Palo Alto, CA-based company plans to raise $2.0 billion by offering 25 million shares (10% insider) at a price range of $75 to $85. At the midpoint of the proposed range, AppLovin would command a fully diluted market value of $30.7 billion.
AppLovin helps mobile app developers, in particular mobile game developers, solve key marketing and monetization challenges, with software that reaches over 410 million users per day. With the use of AppLovin's technologies and scaled distribution, developers are able to manage, optimize, and analyze their marketing investments, and improve the monetization of their apps.
AppLovin was founded in 2012 and booked $1.5 billion in revenue for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol APP. Morgan Stanley, J.P. Morgan, KKR, BofA Securities, Citi, Credit Suisse and UBS Investment Bank are the joint bookrunners on the deal. It is expected to price during the week of April 12, 2021.
