AppLovin Corp (NASDAQ: APP) chief executive Adam Foroughi says the ad-tech company's proposal to acquire TikTok is significantly stronger than the competing bids.
Shares of digital advertising up-and-comer Applovin (APP -16.20%) plunged 18.2% in March, according to data from S&P Global Market Intelligence.
AppLovin's stock has dropped significantly from its peak due to fears and short attacks. The company excels in AI advertising for mobile games, with ad revenues surging 73% in Q4 2024, and is expanding into e-commerce and connected TV ad markets. AppLovin's efficiency is notable, with a 62% adjusted EBITDA margin and $2.1 billion in free cash flow, before divesting the Apps business.
AppLovin CEO Adam Foroughi called the company's late-stage bid to acquire TikTok a "much stronger bid than others" on CNBC's The Exchange Friday afternoon. Foroughi said the company is proposing a merger between AppLovin and the entire global business of TikTok.
AppLovin CEO Adam Foroughi joins 'The Exchange' to discuss its bid to buy TikTok and more.
AppLovin Corp (NASDAQ:APP), a mobile technology company, has reportedly entered the race to acquire TikTok's United States operations. TikTok's China-based owner Bytedance has until Saturday to divest its American business or face a ban in the country due to national security concerns.
AppLovin (APP 2.86%) is one of the most talked-about stocks on Wall Street -- and for good reason. Its stock has been on an incredible ride over the last two years.
Amazon and mobile technology firm AppLovin are the latest to make acquisition offers for TikTok, according to multiple reports, joining Oracle, Microsoft and other potential buyers on the day when the White House is reportedly reviewing an offer—just days before the popular app is required to sell to an American company or face a ban in the U.S.
Amazon (AMZN) and adtech firm AppLovin (APP) have become the latest firms to bid for TikTok, ahead of a U.S. ban of the app set to go into effect Saturday if no deal is reached with the app's Chinese parent company.
AppLovin is one of the the companies in negotiations to potentially acquire TikTok, sources familiar with the situation told CNBC's David Faber on Wednesday. The Trump administration, which has been trying to shift control of the Chinese-owned app to an American company, is "fully aware" of AppLovin's interest in TikTok, the sources said.
CNBC's Kate Rooney and David Faber join 'The Exchange' to discuss the latest bidders of TikTok.
GME, WGS and APP are currently witnessing a short-term pullback in price. So, make sure you take full advantage of it.