AppLovin readies listing for 2021 - Mobile World Live

AppLovin readies listing for 2021

06 OCT 2020

Mobile gaming company AppLovin was reportedly preparing an IPO scheduled for early 2021, as it looks to cash-in on growing demand following the Covid-19 (coronavirus) outbreak.

Citing people familiar with the situation, Reuters reported AppLovin has hired US investment bank Morgan Stanley to lead the preparation process prior to the IPO, which would be held subject to market conditions.

The news comes more than a year after Fortune reported the company was looking to raise $1 billion from an IPO, originally planned for 2020.

Chinese private equity investment company Orient Hontai Capital tried to buy AppLovin for $1.4 billion in 2016, but the deal didn’t go through due to US regulatory concerns.

AppLovin then secured debt financing of $841 million from the investment entity instead.

In July 2018, private equity company KKR acquired a minority stake in AppLovin for $400 million, in a deal valuing the platform at $2 billion at the time.

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Yanitsa Boyadzhieva

Yanitsa joins Mobile World Live as a Reporter based in London. She has more than 5 years’ experience at various media outlets in her home country Bulgaria. She started her career as a political reporter, followed by taking editor roles...

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