Unicorn company AppLovin goes public and helps developers grow their business

A few days ago, the unicorn company AppLovin filed for an IPO. The underwriters included Morgan Stanley, JP Morgan and Goldman Sachs.

AppLovin provides mobile app developers with integrated solutions to grow their businesses. With the help of machine learning technology and predictive algorithms, the project products allow you to select the most relevant audience, effectively monetize and run ads. In this way, mobile apps get an acceleration of their growth, and the company achieves its mission — the development of their ecosystem.

Founded in 2011, AppLovin, according to CEO Adam Faroughi, was not initially able to attract investment. Without venture capital, the company set a course for profitable growth, and since 2013 it has already shown positive cash flow from operations. But the project eventually received its investments: in a total of 6 rounds, the company attracted $1.4B. Among the largest investors are KKR, Hontai App Fund Limited Partnership and Angel Pride Holdings Limited.

The company’s revenue was about $1.45B in 2020, compared to $994.1M in 2019. According to the company, about 410M developers from more than 125 countries use the AppLovin platform

By the nature of its business, AppLovin is located between the fields of software development and video games, which is a popular direction in the technology IPO sector: such interdisciplinarity, wide coverage and chosen direction can be a resource for a successful exit to the stock market.