AppLovin started the year with a market cap of $13 billion.
It was known for investing in mobile gaming studios like “Woody Block Puzzle” and “Bingo Story.”
By year-end, its valuation soared to over $110 billion. Shares were up 758%.
The company went public in 2021. It shifted focus from online games to online ads and AI-driven profits.
AppLovin launched the updated AXON ad search engine. Software revenue increased by 66%.
Net income grew 300%, boosting profit margins to 36.3%. CEO Adam Foroughi’s net worth surpassed $10 billion.
He is excited about a test e-commerce project for targeted ads in games.
sourece : cnbc
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