AppLovin, backed by KKR, has hired Morgan Stanley to prepare for an IPO, which could come in early 2021, sources told Reuters
The company is expected to be valued much higher than its last reported public valuation of $2 billion.AppLovin, the U.S. mobile app and gaming company backed by private equity firm KKR, has hiredto lead preparations for an initial public offering which could come early in 2021, according to people familiar with the matter.
The sources requested anonymity because the IPO preparations are confidential and cautioned that the plans are subject to market conditions. In 2018, KKR acquired a minority stake in AppLovin for $400 million, valuing the company at $2 billion. AppLovin now expects to command a substantially higher valuation, the sources said.
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