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Mobile ad startup AppLovin in talks for $1.5 billion acquisition

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)