"Reigniting optimism for AppLovin stock has been the company's AXON 2.0 platform, a machine learning engine for mobile ad delivery that has been outperforming business expectations. Determining when and which ads to display and to whom, AXON 2.0 optimizes advertisers' reach, engagement, and monetization, especially in the mobile and e-commerce sectors. Furthermore, AppLovin is fueling its growth by rolling out its ad tech globally, targeting markets in Europe and Asia with offices in Tokyo, Berlin, and Seoul."
"Notably, AppLovin divested its mobile gaming division for $400 million in June to Tripledot Studios, also receiving a 20% equity consideration in the company at the time of closing. The strategic move will allow AppLovin to streamline its operations and focus entirely on its high-growth ad tech platform. To that point, AppLovin is positioned as the third-largest ad platform provider in the U.S. behind Meta Platforms ( META - Free Report) and Alphabet ( GOOGL - Free Report)."
AppLovin's stock has rebounded strongly, rising over 100% in the past six months, 80% year to date, and roughly 800% since its April 2021 IPO, reaching an all-time high of $613. The AXON 2.0 platform uses machine learning to optimize mobile ad delivery, improving advertisers' reach, engagement, and monetization across mobile and e-commerce. AppLovin is expanding its ad tech globally with offices in Tokyo, Berlin, and Seoul, increasing total addressable market and reducing dependence on U.S. gaming revenue. The company sold its mobile gaming division to Tripledot for $400 million plus 20% equity to focus on ad tech, ranking third behind Meta and Alphabet.
Read at TalkMarkets
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