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AppLovin raises $2 billion in IPO

AppLovin raises $2 billion in IPO

Mobile gaming company AppLovin's San Fransisco office.


Mobile gaming company AppLovin raised $2 billion in its IPO, valuing the company at $28.6 billion ahead of the start of trading on Thursday.

It's a huge jump from 2018 when KKR invested $400 million in the company at a $2 billion valuation. The IPO also makes AppLovin's CEO and co-founder, Adam Foroughi, tech's newest billionaire with a stake worth approximately $2.2 billion, according to CNBC.

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