AppLovin and Flip Announce Flip To Launch Ad Marketplace for Merchants Using AppLovin’s AXON Technology
02 4월 2024 - 9:30PM
Business Wire
AppLovin invests $50 million into Flip’s $144 million Series C
funding round
AppLovin Corporation (NASDAQ: APP) (“AppLovin”), a leading
marketing platform, and Flip, a fast growing social commerce
platform, today announced Flip will soon be relaunching its
marketing platform for brands utilizing AppLovin’s AXON technology.
Additionally, Flip announced it is raising $144 million in a Series
C funding round, including a $50 million investment by
AppLovin.
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the full release here:
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AppLovin’s AXON technology was launched in early 2023, and
helped its advertisers achieve substantially more scale at higher
performance across AppLovin’s network. With this partnership,
AppLovin is making its AXON technology available to others. Flip
brands will leverage the AI advertising engine via AXON Connect,
and will be able to reach more customers in measurable ways, with
higher returns on the Flip platform. In addition, the partnership
will enable Flip to extend its audience network to AppLovin’s 1.4
billion daily active users (DAUs) on behalf of all the brands on
Flip.
“We have seen the significant impact AXON makes on campaign
performance as brands see stronger return on investment. With AXON
powering Flip’s ads, the Flip consumer will find more products to
purchase. Likewise, brands on Flip will be positioned to drive
significantly more sales,” said Adam Foroughi, Co-founder and CEO
of AppLovin. “Noor, an incredibly talented founder, has led Flip
through the hard part of finding a product market fit. Now that
market fit has been clearly established, we believe this
partnership will catalyze an exciting phase of growth for Flip and
their brands.”
Flip’s funding round was led by Streamlined Ventures with
participation from previous investors Mubadala Capital and WestCap,
and AppLovin as a new investor, bringing the company’s pre-money
valuation to $1.05 billion.
“With the recent launch of our MagicOS ads manager, and now the
upcoming launch of our advertising powered by AXON, we are
confident we can help tens of thousands of brands find the right
customer profitably,” said Noor Agha, CEO of Flip. “We are thrilled
to have continued support from our investors and to add AppLovin to
the mix.”
For more information on AppLovin, visit www.applovin.com.
For more information on Flip, visit www.flip.shop.
About AppLovin
AppLovin makes technologies that help businesses of every size
connect to their ideal customers. The company provides end-to-end
software and AI solutions for businesses to reach, monetize and
grow their global audiences. For more information about AppLovin,
visit: www.applovin.com.
About Flip
Flip is building the next-generation shopping social network for
people to shop through other people. With a growing community of
shoppers sharing video reviews of products they've purchased on the
platform, buyers can discover products through 60 second videos of
user-generated content that is instantly shoppable with a one-click
checkout and same day shipping. Every shopper can then become a
creator by sharing their own reviews and monetizing their content.
To learn more, visit www.flip.shop or download the Flip app on iOS
or Android.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act and Section 21E of
the Securities Exchange Act of 1934. Forward-looking statements in
this release include, but are not limited to, statements regarding
the Flip’s future use of AppLovin technology and expected
performance of such technology for Flip, AppLovin customers’
ability to achieve greater sales and better returns on such sales
and the success of the AppLovin-Flip partnership generally. These
forward-looking statements are subject to risks and uncertainties,
including risks and uncertainties associated with a transaction
between two third parties to the Company, as well as the risks
described in our Annual Report on Form 10-K for the fiscal year
ended December 31, 2023. The forward-looking statements in this
press release are based on information available to us as of the
date hereof, and we disclaim any obligation to update any
forward-looking statements, except as required by law.
Source: AppLovin Corp.
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version on businesswire.com: https://www.businesswire.com/news/home/20240402160250/en/
Press Kim Hughes press@applovin.com
Applovin (NASDAQ:APP)
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Applovin (NASDAQ:APP)
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