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AppLovin Shifts to Social Media Platform Build
19 Feb
Summary
- AppLovin is building a social networking platform.
- This move follows a failed bid to acquire TikTok's assets.
- The company's market value reached $248 billion recently.
AppLovin Corp. is embarking on a new venture to construct a social networking platform, marking a significant departure from its primary role as a mobile advertising company. This ambitious plan was revealed by a senior executive and detailed in a job posting seeking an engineer to develop the digital infrastructure for a next-generation social experience.
The company's strategy contrasts with that of Meta, which first built user bases on Facebook and Instagram before monetizing them. AppLovin, which sold its game portfolio last year, already possesses an advertising system and now seeks greater user data control and market influence. This move positions AppLovin to directly challenge giants like Meta, TikTok, and Snap.
AppLovin's value surged in recent years, driven by its user acquisition and monetization technology for mobile apps and games. Its market value had previously peaked at $248 billion. However, recent stock performance has been affected by skepticism regarding its e-commerce advertising expansion and broader AI disruption concerns, with shares down approximately 40% this year.
The company had previously expressed interest in acquiring TikTok's business outside China after a US ban threat. The current social platform development targets roles like a Singapore-based Backend Engineer to build systems for media delivery, real-time interactions, and content discovery.
