Mobile app marketing company AppLovin announced investments in various game studios ahead of a possible IPO.
Late last week, the company said it had acquired a stake in Belka Games, a Belarusian game studio that makes the puzzle game Clockmaker.
“AppLovin is diversifying its business and broadening its market opportunity in mobile gaming and we are excited to be partnering with them on executing this long-term growth strategy,” explained Herald Chen, head of technology at KKR & Co Inc – the private equity firm backing AppLovin. KKR acquired a minority stake in AppLovin in 2018 at a valuation of $2 billion.
The company launched in 2012 providing app marketing solutions for developers. In 2018, it launched its own media division Lion Studios.
“Strategic investments in dynamic studios with high-quality games and outstanding leadership is an important part of our goal to entertain the world with engaging mobile games and to help game developers everywhere,” said Adam Foroughi, co-founder and CEO at AppLovin. “There is an exceptionally strong game developer community in Belarus, and Belka Games stood out. We are thrilled to invest in Belka Games and to accelerate its growth.”
AppLovin made strategic investments in mobile game studios PeopleFun in 2018 and Firecraft Studios in 2019.
“With 350 million daily active users, the AppLovin platform is proven to fuel growth and success for game developers. Its powerful technology optimizes every part of the player experience, resulting in chart-topping games that have been downloaded by millions of people,” added Foroughi. “With the addition of strategic investments to our ecosystem, we look forward to continuing to drive innovation for game developers around the world, helping make them even more successful.”