Blog

Entrepreneurial

AppLovin’s next chapter

by Adam Foroughi on Sep 26, 2016

About 5 years ago, a few of us started working together to build AppLovin. We believed at the time, as we still do today, that mobile was going to be core to our lives as humans, and if we could enhance marketing on mobile, then we could make an impact on the world and build a large business at the same time.

Today we have big news to share. We have entered into an agreement to sell a majority stake of our company to Orient Hontai Capital for $1.4 billion. We are thrilled about the partnership with Orient Hontai, a leading private equity investment firm in China, because we believe this partnership will provide us with even more resources to continue to improve and accelerate everything we’ve built thus far.

While this deal is a tremendous validation of the outstanding product we’ve built, it’s also particularly remarkable because it’s the most sizeable outcome for a mobile advertising company ever.  When we began the company we had difficulty raising capital. We heard no from multiple investors, but that didn’t deter us. We believed our timing and business objectives were right. Rather than get down about raising minimal capital, we focused on building a business that could grow on its own and sustain itself, and that’s exactly what we did.

As AppLovin embarks on a new chapter with Orient Hontai, I could not be more excited about the opportunities this presents for our employees, customers and partners. We are on pace for a record 2016, and as our momentum grows, so does our shared opportunity – for us and our partners.

I’m proud that at AppLovin we will continue with our high operating standards – maintaining our corporate headquarters in Palo Alto, California and retaining our talented global team. The core of AppLovin remains and endures: our vision, culture, industry leadership, valued customers and team.

Without our excellent team, we would not have had the successes we’ve had. Without our partners supporting us every step of the way, we could not be where we are today. And without our friends and families putting up with our late nights and long hours, we’d never have had the support to get this far. Thank you all and expect us to be even more committed to AppLovin. We’re just getting started!

 

Adam Foroughi is AppLovin’s CEO.

We’re hiring! Apply here.