Adam Foroughi, founder and CEO of US mobile game advertising company AppLovin, recently stated at the 2026 All-In Summit that the company's stock price had plummeted 92% from its 2021 IPO high to a market capitalization of $3.8 billion. It then achieved "self-redemption" through massive share buybacks of approximately $6 billion (canceling 20-25% of outstanding shares) and upgrading its advertising algorithm to a deep learning model in April 2023.
Foroughi revealed that the company's platform has reached $20 billion in annual advertising spending, is expected to generate approximately $6 billion in cash this year, and boasts an EBITDA margin of 84%. After he first re-met with investors in September 2023, AppLovin's stock price surged from $80 to $150, and its market capitalization increased from $28 billion to $55 billion.
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AppLovin CEO Recalls Darkest Hour: Stock Plunged 92%, Achieved "Self-Redemption" Through $6 Billion Buyback and AI Transformation
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