Applovin Corporation - APP STOCK NEWS

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.

Adjust has released its global Partner Benchmarks report, analyzing data from 272 networks with 6 billion installs across 5,000+ apps. The report reveals significant growth in the app economy, driven by varying factors across regions. Gaming leads user acquisition spending, with APAC at 64%. Southeast Asia shows an 18% growth in e-commerce installs. Food delivery apps continue to thrive post-pandemic, showing a 20% growth in installs. Adjust emphasizes the need for tailored strategies in different markets to maximize digital ad spending.

AppLovin Corporation (NASDAQ: APP) announced that its CEO, Adam Foroughi, will join a fireside chat at the Citi 2021 Global Technology Virtual Conference on September 13, 2021, at 1:20 p.m. PT / 4:20 p.m. ET. Investors can access a live webcast and replay through the company's investor relations website.

AppLovin specializes in marketing software that helps developers to promote, analyze, and monetize their apps worldwide.

AppLovin Corporation (NASDAQ: APP) has appointed Asha Sharma, the Chief Operating Officer of Instacart, to its Board of Directors, effective August 10. Sharma brings extensive experience in product development and operations, having previously held senior roles at Facebook, where she oversaw messaging products, and at Porch Group. CEO Adam Foroughi expressed enthusiasm for Sharma's expertise in supporting innovative developers and scaling teams, which will aid in capitalizing on AppLovin's growth opportunities. Sharma is set to contribute her customer-focused vision as the company continues its expansion in the mobile app ecosystem.

AppLovin Corporation (NASDAQ: APP) reported strong financial results for Q2 2021, with revenue soaring 123% year-over-year to $669 million and Adjusted EBITDA tripling to $184 million. The Software Platform segment saw an impressive 256% increase in revenue to $146 million, driven by a robust 203% organic growth. The Apps business also performed well, growing 102% to $523 million. GAAP net income improved to $14 million, marking a significant recovery. AppLovin remains confident in its annual guidance and future growth opportunities.