Press release
AppLovin Completes Acquisition of Wurl to Extend Reach into Connected TV Market
PALO ALTO, Calif.--(BUSINESS WIRE)-- AppLovin Corporation (NASDAQ: APP), a leading marketing platform, today announced it has completed the acquisition of
About this update from Applovin Corporation
[{"type":"text","content":" PALO ALTO, Calif.--(BUSINESS WIRE)--\nAppLovin Corporation (NASDAQ: APP), a leading marketing platform, today announced it has completed the acquisition of Wurl, a world leader in powering streaming TV, for approximately $430 million in cash and stock. The acquisition extends AppLovin’s software platform capabilities into the Connected TV (CTV) market.\n\n“We are excited to complete the acquisition of Wurl and provide advertisers with a seamless way to enter the rapidly growing CTV market,” said Adam Foroughi, CEO and co-founder of AppLovin. “This partnership will allow us to scale our technology beyond mobile with the goal of bringing performance marketing to the CTV market and becoming the world’s largest advertising ecosystem in the world.”\n\nWurl enables content companies to distribute streaming video content to more than 300 million TVs and reach 30 million users globally each month. Through its performance advertising products, they can manage and monetize ad inventory, and build and track global distribution for branded linear channels, live events, and on-demand programming.\n\n“This is a pivotal moment in our company history and for Wurl customers,” said Sean Doherty Sr., CEO and co-founder of Wurl. “Combining with AppLovin will enable us to bring new advertising and marketing services to both CTV and mobile, while opening the door to many new opportunities for advertisers, content companies, and streamers alike.”\n\nIn 2021, eMarketer projected that U.S. advertisers spent $14.4 billion on CTV, an increase of 60% compared to 2020, with ad spending projected to surpass $30 billion by 2025.1\n\nWilson Sonsini Goodrich & Rosati served as legal advisors for AppLovin, and Fenwick & West LLP acted as legal advisor for Wurl. LionTree Advisors acted as exclusive financial advisor to Wurl.\n\nAbout AppLovin\n\nAppLovin’s leading marketing software provides developers with a powerful, integrated set of solutions to grow their businesses. AppLovin enables developers to market, monetize, analyze and publish their apps. The company’s first party content includes more than 350+ popular, engaging apps and its technology brings that content to millions of users around the world. AppLovin is headquartered in Palo Alto, California with several offices globally.\n\nAbout Wurl\n\nWurl, the world leader in powering streaming TV, interconn...