AppLovin IPO raises $1.8bn

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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

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