Applovin Inc. is shooting for a valuation of more than $30 billion as the app-software company priced its initial public offering in its bid to catch a sizable piece of a $200 billion mobile app market.
On Wednesday, Applovin
named a price range for its shares of $75 to $85 apiece, a price that could value the company at more than $30 billion. The company plans to sell at least 25 million shares and have about 360 million shares outstanding, which would trade on the Nasdaq under the ticker “APP.”
The Palo Alto, Calif., company, which will be a decade old in July, makes marketing, monetization and analytics software that helps app developers grow their businesses. It also owns a portfolio of more than 200 free-to-play mobile games with in-app purchases. The expected valuation of Applovin dwarfs that of a recent comparable IPO, Unity Software Inc.
which was valued at nearly $14 billion at the time of its IPO in September.
In its Securities and Exchange Commission filing, Applovin said it sees a total market opportunity of about $189 billion, with $101 billion of that in in-app advertising revenue and about $88 billion in worldwide direct-game spending, citing IDC 2020 figures. Applovin expects that market opportunity to grow to $283 billion by 2024.
Here are five things to know about Applovin.