Palo Alto-headquartered AppLovin helps mobile developers find new customers by targeting ads at people similar to the existing user base, then it continues engaging those customers with personalized, retargeted ads. Co-founder and CEO Adam Foroughi told me a few months ago that the startup’s gross revenue had reached a $100 million run rate.
When discussing the acquisition earlier this week, Foroughi also said that the company has customers around the world, but the business team has remained entirely US-based. So as Foroughi began to consider opening offices abroad, he was “looking for people who have a shared vision.” Apparently he found those people at Moboqo, which will spearhead AppLovin’s efforts in Europe. (The company also plans to open an office in London.)
It sounds like this is very much a talent-focused acquisition. Foroughi said his team won’t be using Moboqo’s technology, which was largely “similar and smaller scale” compared to AppLovin’s. However, Moboqo co-founder Johannes Heinze will become AppLovin’s managing director for EMEA gaming, while the other co-founder, Thomas Heinze, becomes director of business development for EMEA (that’s Europe, the Middle East, and Africa).
“We strongly believe in Applovin’s mission to leverage the power of data to personalize the mobile advertising experience,” Heinze said in an emailed statement.
The financial terms of the deal are not being disclosed. AppLovin also says it’s too early to know how many other members of the 11-person Moboqo team will be joining the company.