AppLovin, which provides a platform for marketing and monetizing mobile games, raised $2.0 billion by offering 25 million shares (10% secondary) at $80, the midpoint of the $75 to $85 range.
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. Solutions are delivered through the AppLovin Platform, which is comprised of AppLovin Core Technologies and AppLovin Software. The company also has a globally diversified portfolio of over 200 free-to-play mobile games across five genres, run by twelve studios, including owned studios and partner studios. Since the beginning of 2018, AppLovin has invested over $1 billion across 15 strategic acquisitions and partnerships with app studios, games, and technologies, with a primary focus on rapid growth.
AppLovin 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 acted as lead managers on the deal.
