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AppLovin IPO raises $1.8bn

Mobile services and publishing company AppLovin has raised almost $2 billion in an Initial Public Offering.
Reuters reports the company sold 22.5 million Class A common shares, while existing shareholders sold a further 2.5 million shares ahead of its listing on the NASDAQ Global Select Market.
Shares were priced at $80 each, the midway point in the previously set price range of $75 to $85 per share.
The Financial Times reports the Offering raised $1.8 billion and valued AppLovin at $28.6 billion, adding that this is one of the biggest public debuts of the year.
AppLovin is a mobile services firm that aids other developers with monetising their games, but it also owns 12 studios and operates more than 200 games. ....

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AppLovin IPO raises $1.8bn

AppLovin IPO raises $1.8bn
gamesindustry.biz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gamesindustry.biz Daily Mail and Mail on Sunday newspapers.

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This Week in Apps: Twitter targets creators, Clubhouse security, Spotify's plans for paid podcasts – TechCrunch

This Week in Apps: Twitter targets creators, Clubhouse security, Spotify’s plans for paid podcasts
Welcome back to This Week in Apps, the weekly TechCrunch series that recaps the latest in mobile OS news, mobile applications and the overall app economy.
The app industry is as hot as ever, with a record 218 billion downloads and $143 billion in global consumer spend in 2020. A
new forecast this week expects consumer spend to grow to $270 billion by 2025.
Consumers last year also spent 3.5 trillion minutes using apps on Android devices alone. And in the U.S., app usage surged ahead of the time spent watching live TV. Currently, the average American watches 3.7 hours of live TV per day, but now spends four hours per day on their mobile devices. ....

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Chinese mobile games are gaining ground in the US – TechCrunch

Chinese mobile games are gaining ground in the US
Over the past year, the coronavirus crisis has spurred app usage in the United States as people stay indoors to limit contact with others. Mobile games particularly have enjoyed a boom, and among them, games from Chinese studios are gaining popularity.
Games released on the U.S. App Store and Google Play Store raked in a total of $5.8 billion in revenue during the fourth quarter, jumping 34.3% from a year before and accounting for over a quarter of the world’s mobile gaming revenues, according to a new report from market research firm Sensor Tower. ....

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Chinese mobile games are gaining ground in the US

Mobile games particularly have enjoyed a boom, and among them, games from Chinese studios are gaining popularity. Chinese publishers claimed 21 spots among the 100 top-grossing games in the period and collectively generated $780 million in revenues in the U.S., the world's largest mobile gaming market, more than triple the amount from two years before. Occupying the top rank are familiar Chinese titles such as the first-person shooter game Call of Duty, a collaboration between Tencent and Activision, as well as Tencent's PlayerUnknown's Battlegrounds. ....

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