Mobile marketing firm AppLovin invests in game studios [Reuters]
KKR & Co. Inc. (KKR)
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Source: Reuters
Mobile marketing firm AppLovin invests in game studios - Reuters 2 Min Read NEW YORK, Sept 5 (Reuters) - AppLovin Corp, the U.S. mobile marketing firm backed by private equity firm KKR & Co Inc , said on Thursday it has invested in several gaming studios, as it adds to its library of games ahead of a potential initial public offering. Palo Alto, California-based AppLovin said it has acquired a stake in Belarusian game studio Belka Games, which is the creator of mobile puzzle game Clockmaker. AppLovin also disclosed investments in PeopleFun and Firecraft Studios, the latter of which developed mobile game Matchington Mansion which has been rated more than 1 million times on the Google Play Store. “To get to the next level, these game studios needed strategic expertise and capital which we can provide,” AppLovin Chief Executive Adam Foroughi said in an interview. AppLovin began in 2012 as a platform for developers to promote their apps. In 2018, AppLovin began a media division, Lion Stud
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