AppLovin, the mobile advertising company founded in 2012, has attracted the attention of a potential Chinese buyer for roughly $1.5bn, according to company sources.
The firm has been successful with personalised mobile advertising and doubled its 2014 revenue to $200m last year. For 2016, AppLovin projects $500m in ad spend across its platform.
AppLovin in acquisition talks
The company was founded by Adam Foroughi, Andrew Karam and John Kyrstynak in San Francisco and has since attracted a variety of high-profile clients including Uber, Spotify, and Opentable.
In addition, it didn’t require too much funding, raising around $4m from angel investors. That makes it an even more desirable proposition for the Chinese market, which has been rather hungry to purchase mobile and digital ad companies as of late.
Though it refused to comment on the rumoured deal, AppLovin provided the following comment:
“AppLovin is a global business, and as we continue to grow, our business development includes regular dialogue with partners around the world to explore various forms of potential collaboration. Our goal remains to focus on our business and keep our customers our No. 1 priority. At this stage, we do not have any formal announcement to make.”