- General
- July 17, 2018
- 3 minutes read
KKR takes $400 million stake in ad-tech company AppLovin at $2 Billion Valuation
image credit : AppLovin Ad-tech company AppLovin has now agreed to a $400 million investment from private equity giant KKR &…
image credit : AppLovin
Ad-tech company AppLovin has now agreed to a $400 million investment from private equity giant KKR & Co in a deal valuing the 6 year old company at $2 Billion counting an increase of $600 million from its most previous valuation of $1.4 Billion.
AppLovin stands as a comprehensive platform providing connection of app developers of all sizes with ideal global consumers with a focus on the gaming sector and with this investments plans to “accelerate AppLovin’s goal of giving app developers of all sizes the ability to finance, market, and grow their businesses.”
The company which reaches over 300 million users daily just recently launched its mobile game division Lion Studios which has already published several mobile hit games including Draw In, Love Balls, Cash, Inc., and Clicker Racing which has already garnered over 60 million downloads between them.
“AppLovin is a robust, market leading platform in the high-growth mobile gaming market,” said Herald Chen, Member and Head of Technology, Media and Telecom at KKR. “We are excited to be backing the company and partnering with Adam Foroughi (AppLovin’s CEO), an excellent entrepreneur, strategist and operator, and we look forward to supporting the expansion of its global mobile gaming platform through continued investment in AppLovin’s best-in-class products and services.”
AppLovin has grown rapidly since its start 2012 with the company scaling to a leading mobile marketing platform and working with close to 90% of global top mobile gaming companies.
AppLovin currently counts offices across San Francisco, Dublin, New York, Beijing, Tokyo, Seoul and Berlin and will be fueling its growth and expansion with this huge funding.
“We’re honored to be partnering with KKR, one of the best investment firms in the world,” said Adam Foroughi, CEO and co-founder of AppLovin. “This investment will further fuel the growth of our product and our investment in Lion Studios. KKR’s expertise will be invaluable as we continue to scale our company globally and help more app developers meet and exceed their business goals.”
