AppLovin

The company was founded in 2012 by Adam Foroughi, John Krystynak, and Andrew Karam,[6] and was reportedly named by Foroughi after the McLovin character from the film Superbad.[7] The company operated in stealth mode until 2014. During this time, the company raised $4 million in financing from angel investors, Streamlined Ventures and the Webb Investment Network,[5] and focused on developing its product. Before emerging from stealth mode, AppLovin acquired customers including companies like Opentable and Spotify.[8][9] In October 2014, AppLovin purchased the German mobile ad-network, Moboqo.[10]

On September 26, 2016, it was reported that AppLovin had agreed to be acquired by the Chinese private equity firm, Orient Hontai Capital, for $1.42 billion; the acquisition deal was subsequently abandoned for debt investment after opposition to the plans from CFIUS.[11][12][13]

The convertible note facility that AppLovin received from Hontai Capital was fully refinanced In August 2018, after AppLovin raised a significant credit facility from U.S.-based investors. Hontai retain a small equity stake in AppLovin.[14][15]

In July 2018, AppLovin launched Lion Studios, an independent media division of AppLovin that works with mobile developers to publish and promote their games.[16][17]

In 2016, the company was ranked #10 on the Deloitte Fast 500 North America list.[18]