Mobile ad startup AppLovin is in talks with a Chinese buyer for an acquisition of around $1.5 billion, according to multiple sources with knowledge of the company.
Founded in 2012 by CEO Adam Foroughi along with Andrew Karam and John Kyrstynak, San Francisco-headquartered AppLovin operates a mobile ad network that helps advertisers target and deliver personalized ads to people who are similar to their existing user base.
The business is profitable and saw $234 million in revenue in 2015. The company is projecting $500 million in ad spend on the platform this year.
AppLovin’s financial position makes it a more desirable acquisition target, and it could help a Chinese buyer move into the United States.
Techcrunch (26 Aug)
