AppLovin, a mobile app developer and tech platform, hit the Nasdaq today at a valuation of $28.6 billion.
Top line
The company, founded in 2011, raised $2 billion in its public offering. It joins a wave of other ad-tech companies, such as PubMatic and Viant, that have recently gone public or sold majority stakes amid an extremely bullish market.
Between the lines
Despite the frenzy of exits, the mobile advertising industry as a whole is facing a serious threat from an imminent Apple update that would limit tracking across its devices.
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