AppLovin has had particular success with mobile ads, doubling its revenue from 2014-2015 and hitting over $200 million. There are even rumors that the company is projecting for $500 million in revenue this year.
Remarkably, AppLovin never engaged in serious venture funding and operated in “stealth mode” for a number of years after its founding in 2012. Along with way, it took a mere $4 million from select angel investors, including Eduardo Vivas and John Burbank.
While $1.5 billion may sound like a lot, it’s a small price to pay for a solid toehold in the mobile ad marketplace, according to Tony Ma, CEO of Orient Hontai. Post acquisition, AppLovin is expected to continue its standard operations, maintaining its corporate headquarters in Palo Alto, California, and servicing customers around the globe.
“As the mobile market grows, AppLovin is well-positioned to herald new innovations and a standard of excellence,” Ma stated.
This year, Chinese companies and investors have aggressively sought tech holdings through mergers and acquisitions. Opera, for example, was slated to sell to a Chinese conglomerate -- before the deal was modified to exclude OperaMediaworks, the company’s mobile division.
Chinese companies have already invested more money overseas this year than they did in all of 2015. According to Dealogic, if China continues its present trend, it will be the first time since 2007 that a country has beaten the U.S. in overseas investments.
Chinese companies have also withdrawn 15 investments as of May -- most notably with mobile ad tech company Quixey. Those deals were collectively worth about $24 billion.