Applovin Corporation - APP STOCK NEWS

AppLovin Corporation (NASDAQ: APP) has appointed Alyssa Harvey Dawson to its Board of Directors. With over 20 years of experience in legal and business sectors, she previously served as General Counsel at Alphabet's Sidewalk Labs. Dawson's proven expertise in compliance, corporate governance, and risk management is expected to bolster AppLovin's strategic direction. CEO Adam Foroughi highlighted her valuable experience in aiding company growth and advising on complex transactions. Dawson's appointment aims to enhance AppLovin's capabilities in navigating the evolving mobile app ecosystem.

AppLovin Corporation (NASDAQ: APP) reported strong financial results for Q3 2021, with revenue increasing by 90% year-over-year to $727 million. Notably, the Business Software Platform revenue surged by 385% year-over-year to $193 million, driven by a record 449 Software Platform Enterprise Clients. Adjusted EBITDA rose 126% year-over-year to $191 million, while net income improved to $0.1 million from a loss of $90 million. The company continues to expand its market position with a robust Net Dollar-Based Retention Rate of 255%.

Wynn Resorts announced that CEO Matt Maddox will step down on January 31, 2022, following a unanimous decision by the Board. Craig Billings, currently CEO of Wynn Interactive, will succeed him starting February 1, 2022. Maddox has led the company through significant challenges, including the pandemic, and is credited with enhancing diversity in leadership and the successful launch of Encore Boston Harbor. Billings brings extensive industry experience and has been a board member since 2018.

AppLovin announces the launch of Bermuda Adventures by partner studio Belka Games, marking a significant milestone in game development. This title, available on iOS and Android, invites players to explore mysterious islands while engaging in customizable gameplay. Belka Games has expanded its team by 140% and achieved over 200% revenue growth following AppLovin's strategic investment two years ago. Belka ranks among the top game publishers globally, reflecting its strong market presence and potential for further growth.

AppLovin Corporation (NASDAQ: APP) has successfully closed a new $1.5 billion term loan, which will be utilized for general corporate purposes, including potential acquisitions. The loan carries an interest rate of LIBOR plus 3.00% with a 0.50% LIBOR floor. Major financial institutions including JPMorgan Chase Bank, BofA Securities, and Goldman Sachs acted as joint lead arrangers for the loan. The company aims to leverage these funds to enhance its business growth and expand its market reach.

AppLovin Corporation (NASDAQ: APP) will release its third-quarter financial results on November 10, 2021, after the market closes. A conference call and webcast will follow at 2:00 PM PT / 5:00 PM ET on the same day, featuring CEO Adam Foroughi and CFO Herald Chen discussing the results and business performance. Investors can access the live audio via the company’s website or through a dedicated phone line, with a replay available until November 17, 2021.

AppLovin Corporation (NASDAQ: APP) has announced plans to raise a new $1.5 billion term loan aimed at supporting general corporate purposes, including acquisitions. The transaction is subject to market conditions, and there is no guarantee that AppLovin will successfully complete it. JPMorgan Chase Bank and KKR Capital Markets are acting as joint lead arrangers for this loan.

The company emphasizes its marketing software solutions for app developers, but the ability to finalize this loan remains uncertain due to potential market fluctuations.

AppLovin Corporation (NASDAQ: APP) has agreed to acquire Twitter, Inc.’s (NYSE: TWTR) MoPub business for approximately $1 billion. This acquisition aims to enhance AppLovin's publisher monetization tools and provide a robust solution for mobile app publishers, increasing revenue opportunities and advertiser access to a broader audience of 1.5 billion users. The deal's closure is contingent on customary conditions and regulatory approvals. AppLovin's integration of MoPub is expected to drive revenue growth and improve efficiencies.

Twitter, Inc. (NYSE: TWTR) has entered into a definitive agreement to sell MoPub to AppLovin Corporation (NASDAQ: APP) for $1.05 billion in cash. This strategic move aims to enhance Twitter's focus on developing its own revenue products, particularly in performance-based advertising and SMB offerings. MoPub generated approximately $188 million in revenue in 2020. Following the sale, Twitter plans to accelerate product development to meet its goal of doubling annual revenue from $3.7 billion in 2020 to $7.5 billion by 2023.