Tuesday, July 17, 2018

AppLovin raises $400 million for mobile game discovery

AppLovin, a start-up based in Palo Alto, California, announced a $400 million investment from KKR, a leading global investment firm, to accelerate its global mobile game discovery business

AppLovin said the partnership with KKR advances its goal of giving app developers of all sizes the ability to finance, market, and grow their businesses.  KKR is making the investment primarily from its KKR Americas XII Fund.

Mobile gaming projected to be a $70.3 billion industry in 2018, growing over 25% year-over-year according to Global Games Market Report.

AppLovin currently reaches over 300 million daily active users and drives over one billion installs for gaming companies annually.

“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.”

  • AppLovin was founded in 2012.  In 2018, the company launched its own mobile gaming division, Lion Studios, which has already published multiple chart-topping games. The company is headquartered in Palo Alto with offices in San Francisco, New York, Dublin, Beijing, Tokyo, Seoul, and Berlin.