AppLovin

“We got to, like, I think it was 2017, you're talking over, well over a hundred million dollars of EBITDA. We cleared whatever numbers we told them.”

“So back to the board point, and we did raise another round, there was more liquidity later, but back to the board point I didn't have a board in this business until 2018.”

“And if you do that, and what I call performance marketing is that make the advertiser an arbitrage. Very few people define performance marketing as that, and very few companies have executed. Facebook's done a fantastic job of it. Google, part of their busines…”

“Over, I think it was about a year and a half ago, over 80% of our code was LLM written, and now it's much higher than that”

“So actually like the business from KKR investment to IPO ended up looking wildly different than an advertising business because we ended up with like 14, 15 different game studios across all categories of gaming that we ended up owning so that we can not only …”

“I think it was April, 2023 was when the stock was nine, 10, 11 bucks. So we peaked it was probably six months ago or so at 750 bucks. So the valuation went from under four billion to a peak of two hundred and fifty billion.”

“In our business on the, on one hand, we have billion users who are playing games, billion plus users who are playing games every single day around the world in the U S over a hundred and fifty million only adults.”

“There's a company that recently exited out of Turkey and mobile gaming that I believe was like 10, 15 people and sold for a billion dollars. They sold under one year from launch for a billion dollars. Almost all of their business Growth on the marketing and mo…”

“And so I always looked for people on the team that had some reason to have a grudge or a chip on their shoulder or something that would motivate them. If they didn't have that in life was really easy. Those were not people that I was going to introduce to the …”

“And so for the following 18 months, we ended up deploying somewhere around six billion dollars of buybacks of our own capital, and we leveraged some to buy back shares in the company. And over time, that ended up creating somewhere in the neighborhood of 50, s…”

“When we first started the business, I went out and talked to VCs to raise capital, and I got turned down by all the top VCs. So a million dollars over four million dollar valuation at some point in spring, 2012.”

“Too low a float makes you more volatile, and if the valuation is lower and you can do a 10 to 15% float, you end up attracting better investors who can end up being long-term with you. If you push the valuation where you can't fill a bigger round, you end up w…”

“So we raised four over twenty five million dollars pre as a convertible note to common in, in November. The business by that point in time had gotten a million dollar a month run rate. So we went from launch To a million dollar a month run rate and profitable …”

“To this day, we don't have a CRO. We're an ads business. I mean, anywhere you look, advertising business, who doesn't have a CRO? We don't have a CRO. We don't have a COO. We have today this, the C-suite is myself, the CFO, the CTO, and we have a general couns…”

“A lot of people get complacent with the leaders that they have, and those leaders, if they're not at that moment as good for the role of someone underneath, that person underneath is going to leave and start a new business. So like you owe it to every single p…”

“The business grew nearly a hundred percent year over year, and we fired about 40% of the team because I wanted to distill it down to these eight players.”

“We didn't want to go through. And say, we own 15 studios. We're going to sell off one at a time just to make a profit. So instead we just priced it down enough to make it enticing to a company like Triple Dot to just take the whole thing off our hands.”

“Probably, I don't know how big, but maybe even almost the over 50% of the marketing dollars in the space go back to our platform because the developers on the other side are seeing the best returns that they've ever seen in their existence on the dollars that …”

“We believe there's a path to a trillion dollar outcome, and we don't set time, it's just that this business can be as big as what you would need to be a trillion dollar business, and we actually just did a comp plan to some of the key people that, is built on,…”

“We ended up doing it so that instead of their billion dollars being an equity investment for 70% where they would get control, which is what triggers this scrutiny, we ended up pivoting it to a billion dollar convertible note that if on conversion we pay them …”

“Our average ad is over 35 seconds long.”

“At the same time, interestingly, we went out with seven hundred million dollars of EBITDA in 21. We did a billion dollars plus of EBITDA in 22, so like fast growth, executing on the business, yet public market investors were telling us business is terrible”

“We started getting interest from other tech companies to buy us, and so got as big as an offer for six hundred million dollars cash.”

“I mean, run, run rate wise, I think Q one we made, or I guess Q four, what we just announced in, in Q one was I think it was 1.3 billion in cash just in a single quarter.”

“Bring in traditional US capital, get some debt. Clear out the Chinese convertible debt. Give them their ownership. Off we go. Clean cap table. And so, we did that, I believe it was in the summer of 2018, and we had to build the first board that I'd ever been p…”

“And so we took it down to a little over a hundred people that we give equity to in the business.”

“As you said, our core team on advertising is only 400 people. Well, to run studios is a huge lift. You need a lot of headcount. There were 1500 plus people on those businesses, and it was distributed over the world.”