Keep pulling the thread on Adam Foroughi.
During 2022, AppLovin's stock price fell from $115 per share to $9 per share.
AppLovin's market capitalization reached a low of approximately $3.8 billion in 2022.
At its IPO in April 2021, AppLovin was valued at approximately $28 billion.
AppLovin generated $700 million of EBITDA in 2021 and over $1 billion of EBITDA in 2022.
AppLovin deployed approximately $6 billion for stock buybacks over an 18-month period, funded by company capital and leverage.
Adam Foroughi claims AppLovin's $6 billion stock buyback program generated between $50 billion and $60 billion in value.
In 2015, AppLovin received and ultimately rejected a $600 million all-cash acquisition offer.
In 2016, AppLovin announced a private equity investment from the Chinese firm Orient and Hontai Capital at a $1.4 billion valuation.
The 2016 investment deal with Orient and Hontai Capital was blocked by the Committee on Foreign Investment in the United States (CFIUS) due to national security concerns.
In the summer of 2018, KKR invested in AppLovin to help restructure its capital table following the blocked Chinese investment deal.
In 2018, AppLovin began acquiring gaming studios to obtain first-party data needed to train its machine learning models and compete with platforms like Facebook.
After owning them for approximately five years, AppLovin sold its portfolio of 15 gaming studios to the UK-based company Triple Dot.