First impressions of AppLovin’s IPO filing
AppLovin released its S-1 filing yesterday, bringing the Palo Alto-based mobile app-focused software company a step closer to joining the public markets.
The business results detailed in the document are generally impressive. While some companies going public in recent months have detailed pandemic-fueled growth to lean against or membership in a sector hotter than individual results, AppLovin’s filing tells the story of a rapidly growing company that has managed to scale adjusted profit as it has grown.
And now, with annual revenue north of $1 billion, AppLovin is also a very large company, meaning that its IPO will be widely watched.
So this morning we’re rifling through its IPO filing and yanking out what matters as we add one more name to our IPO lists.
Most of the news is good
As a short introduction, the company’s products are designed to help developers find users and monetize their apps. And AppLovin has its own in-house suite of mobile apps, what its S-1 calls a “globally diversified portfolio of over 200 free-to-play mobile games run by 12 studios.” Those apps have 32 million global daily actives, the document added.
It’s a (Read more...)